Consumer lending

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.

Consumer Credit Portfolio II is not a securitization, but Groundfloor is known for two deferred-pay residential transition loan ABS that are paying investors higher premiums than rated RTLs.

The 90-day-plus delinquency rate on student loans hit 10.3% in the first quarter, and New York Fed researchers warn that a second wave of defaults could be coming. Evidence is mixed regarding the likely impact on other consumer-lending segments.

The transaction comes to market with initial hard credit enhancement levels of 33.60%, 22.90%, 13.50% and 8.65% across the subordinate tranches, higher than the previous deal.

Borrowers in the pool had a non-zero weighted average credit score of 608, with a 112.12% loan-to-value (LTV) ratio.

The weighted average, base-case annualized gross loss declined from 11.78%, from 11.86%, because of minor changes in its assumptions of pool segment defaults.

The three class A notes, A1, A2 and A3, of GCAR 2026-2 notes will all benefit from hard credit enhancement levels, plus haircut to excess spread of 56.07%.

Nationwide, Americans are falling behind on their car loans. But among Ally Financial's customers, delinquencies fell during the first quarter.