Just 2.15% of the loans in the pool financed properties in Los Angeles County, and the surrounding areas that have been impacted by the recent wildfires.
Investors and analysts see pockets of value in asset-backed securities, as elevated fiscal policy uncertainty and wariness about the economic environment rise.
Outstanding loans eligible for repossession in December 2022 saw a 22.5% increase from December 2019, but redemptions were higher than pre-pandemic levels.
The agency wants the National Collegiate Student Loan Trusts, which sell student loan asset-backed securities (ABS) to investors, to pay $2.25 million in fines to borrowers.