Consumer lending

If PAID 2026-REV1 doesn't breach any triggers, then the deal might pay an annual step-up premium representing 1.00% of each class's outstanding amount.

For its first securitization PMCC 2026-1 will sell to noteholders through six tranches of notes, and credit enhancement coverage that begins at 67.91% on the AAA-rated, class A notes.

The agency says the subprime auto lender pledged the same car loans to several lenders and bond deals at once, leaving investors owed about $945 million.

FHF Issuer Trust 2026-2's final distribution dates range from Sept. 15, 2027 on the class A1 notes through Jan. 16, 2034 on the class F notes.

Aqua Finance's credit enhancements include a sequential pay structure until the class A credit enhancement period is over.

The current deal comes to market with a shorter revolving period and a smaller collateral pool, but other traits are similar to previous deals.

The latest consumer conditions study from the American Financial Services Association paints a less-than-rosy picture of how lenders expect the second half of the year to play out.

The rule 144A deal's structure includes a cash collateral account represents 1.00% of the note balance across all tranches.

Until this quarter, car-loan delinquencies for the Detroit-based bank had been steadily dropping. But in the spring of 2026, that momentum showed signs of slowing.

At a House hearing last week, GOP lawmakers asked Russell Vought, the acting director of the Consumer Financial Protection Bureau, for advice on how to craft legislation to permanently change the CFPB's authority. The hearing highlighted a consensus among Republicans that administrative policy rollbacks are not enough.

After the turbo period—months 12 through 39—classes A2, A2, B, C, D, E and F1 will receive enough principal payments to reach their respective target note balances and stay there.

The pool includes called collateral and smaller concentrations of loans originated in higher credit tiers, resulting in some underlying asset weakness compared with a previous deal.

Analysts at KBRA estimate a base case loss of 4.8%, down from the estimated loss of 5.6% on the 2025-1 series.

Subprime auto and unsecured consumer loans are under pressure even as overall ABS performance remains steady.

The Consumer Financial Protection Bureau is overhauling its consumer complaint portal after receiving 6.6 million complaints last year, more than double the 3.2 million in 2024, citing abuse by credit repair firms and social media influencers.

Although the follow-up securitization also issued three classes of notes, the deal amount is also much smaller than the first deal, with raised $217.2 million.

Canyon ABF Partners will provide capital to specialty lenders and regional banks and be a rapid acquisition and structuring vehicle for primary and secondary loans on a range of assets.

The deal includes a three-year revolving period when collections can be used to buy new collateral if it meets eligibility and reinvestment criteria.

Housing advocates and compliance firms are suing to block a rule from the Consumer Financial Protection Bureau that they say guts the Equal Credit Opportunity Act.

As lenders explore the adoption of FICO 10T and VantageScore 4.0, setbacks and data limitations remain.