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Securitization Insight features in-depth discussions on the latest industry developments. The podcast is hosted by partner Patrick Dolan who interviews key business leaders and policy makers to investigate important trends affecting the securitization space.
82 Episodes
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Andrew Lom, US Head of Financial Services and Global Head of Private Wealth in the New York office, joins host Patrick Dolan to discuss how tokenization is reshaping asset-backed finance. Andrew shares insights into how the foundational components of tokenization work together to reduce costs, boost transparency and accelerate settlement through near-instant transactions. We also examine the potential impact of the GENIUS Act and CLARITY Act on driving broader adoption of tokenization.
Chris Killian, Managing Director, Corporate Credit and Securitization at SIFMA, joins host Patrick Dolan to discuss compliance programs in relation to SEC Rule 192. They focus on the impact of clause (a)(3)(iii) and the SEC’s no-action relief issued on May 16, 2025.Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.
Pratik Gupta, Managing Director and Head of Global CLOs and US RMBS Strategy at BofA Securities, joins host Patrick Dolan to discuss the CLO market, covering the key factors that shaped 2024 and the outlook for 2025. Pratik walks us through how syndicated and private credit is reshaping the landscape, the growth of the ETF market and the evolving buyer base.Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.
Keith Martin, co-head of projects, United States at Norton Rose Fulbright, joins host Patrick Dolan to discuss the recently signed budget reconciliation bill, referred to as the ‘Big Beautiful Bill.’ Keith provides his insight on the implications of the bill, including whether the legislation has accelerated the push to launch renewable energy projects before the deadlines in 2025 and 2026, how changes to technology-neutral tax credits may shift incentives and what the new Foreign Entity of Concern (FEOC) rules mean for sourcing and compliance. We also cover the executive order issued shortly after the bill, examining how stricter enforcement directives may complicate timelines and increase regulatory uncertainty for developers.
Join Christine Dalton, Director, S&P Global and host Patrick Dolan for a deep dive into the growing interest in music securitization. This episode unpacks the music assets involved, the qualities that define strong music investments and the key characteristics of a well-structured securitized pool while also exploring the risks associated with these transactions. We also discuss the potential impact of artificial intelligence (AI) on music valuation and the music industry’s outlook amid global uncertainty.Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app
Derek Moran, Senior Vice President of US RMBS Ratings at Morningstar DBRS, joins host Patrick Dolan to explore home equity sharing agreements, their repayment structures, fees and how they compare to HELOCs. The discussion highlights key risks and increasing regulatory attention under the Trump Administration’s CFPB.Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.
Fred Perreten, Managing Director of CMBS at KBRA, joins host Patrick Dolan to discuss the current landscape of the data center securitization market. We examine the market's performance in 2024, discuss potential shifts in 2025 under the Trump Administration, and break down the ratings criteria that play a role in these unique transactions.Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.
Rahel Avigdor, Managing Director of Consumer ABS at KBRA, joins host Patrick Dolan to discuss trends in auto loan securitizations. Rahel provides her perspective on how the prime and sub-prime auto loan securitization markets performed in 2024, changes she may expect in these markets in 2025 under the Trump Administration, key ratings criteria for rating auto loan securitizations and any new features that she is seeing in auto loan securitizations.
Michael Bright, CEO at Structured Finance Association joins host Patrick Dolan to discus the complexities of GSE reform. We explore key issues including the balance between nurturing the private RMBS market and ending conservatorship, adjustments to loan limits, and restrictions on GSE activities. Fred provides his insight on administrative reform risks, the role of credit risk transfers, capital requirements, government guarantees, and the SEC's oversight on reporting standards.
Alan Todd, CFA, Head of US Commercial Mortgage Backed Securities (CMBS) Research at BofA Securities, joins host Patrick Dolan to discuss the trends and expectations for the CMBS market in 2025. Alan shares his outlook on CMBS delinquency rates, special servicing rates, investor interest in alternatives such as data centers, single family rentals and self-storage and CRE CLO issuance as compared to 2024 levels. We also cover the office market dynamics in major cities, including quality shifts, supply shortages and tenant demand for second-tier office space as well as the outlook for the multifamily sector.
Robin Wigglesworth, editor of Alphaville, the Financial Times financial blog, joins host Patrick Dolan to discuss the differences between synthetic and non-synthetic CRTs, common types of CRTs and their appeal to investors. Robin also reviews the historical developments and differences of the European and US markets, and their impact on the private credit market. We'll also cover regulatory changes like Basel III, and explore the current and future market trends.
Sergey Moiseenko, Managing Director, Credit Ratings of the US ABS group at DBRS Morningstar joins host Patrick Dolan to discuss recent trends and developments in the equipment finance sector, including the performance and credit quality of equipment ABS, M&A activity, loans vs. leasing and more. Sergey examines the evolving funding strategies for programmatic issuers in comparison to one-off issuers and the best entry methods for lessors. He also shares his thoughts on the equipment finance sector’s outlook, including the impact of increasing private credit adoption.
Leslie Sack, Director of Advocacy at the Structured Finance Association, joins host Patrick Dolan to review the latest shifts in financial regulation and leadership. Sack provides her perspective on French Hill's expected agenda as the new chair of the House Financial Services Committee, the challenges facing Caroline Crenshaw’s renomination to the SEC, and Tim Scott's priorities as the new chair of the Senate Banking Committee. We also examine the potential candidates for leading the CFPB, OCC, FDIC, and the SEC.
Alison Bisbey, Senior Writer at Green Street News, joins host Patrick Dolan to discuss the potential for increase in Federal Family Education Loan Program (FFELP) Asset-Backed Securities (ABS) issuance as prepayments rise. She explores the impact of prepayments on FFELP ABS, the factors behind them, and whether sponsors may wait for spreads to narrow. This episode also highlights the continued dialogue between insurers and bank regulators about unfunded guarantees in bank credit risk transfer (CRT) and synthetic risk transfer transactions and the concerns raised by regulators. Alison examineswhether the revised Basel III proposal will address these issues.
Greg Hertrich, Managing Director at Nomura Securities International, Inc., joins host Patrick Dolan to discuss the changing world of Synthetic Risk Transfers (SRTs) and Credit Risk Transfers (CRTs). Greg explores the potential impact of increased regulation under a Trump administration on SRTs and CRTs, and how Basel III and other regulatory changes could shape these sectors, including both current and future issuance volumes. Additionally, we look at risk profiles for different loan and asset types, such as large corporate, SME, consumer and commercial sectors.
Van Hesser, Senior Managing Director and Chief Strategist at KBRA, joins host Patrick Dolan to discuss the current state of credit markets. Van provides his perspective on how investors are interacting with the market and whether their appetite for risk has shifted. Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.
Mansoor Ghori, Chief Executive Officer and Founder of Petros PACE Finance, joins host Patrick Dolan to discuss the state of the Commercial Property Assessed Clean Energy (C-PACE) financing market. Mansoor shares his insights on current trends and the unique challenges the commercial sector may face over the next five years. We also discuss the recent IRS private letter ruling in regards to C-PACE, and Mansoor provides his thoughts on the recent changes to the NYC C-PACE program.
David Dwyer, General Counsel for Policy and Regulatory Affairs at the Structured Finance Association, joins Patrick Dolan to offer insights into Rule 192 under the SEC.David breaks down complex industry terms, explores rules around short sales and substantial economic equivalents and delves into the intricacies of conflicted transactions under prong (iii). We also discuss pre-securitization activities, disclosure impacts and what it means to be a securitization participant.Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.
Eamonn Moran, senior counsel in our Washington, DC office, joins host Patrick Dolan to discuss the US Supreme Court’s majority opinion in the Chevron case and the potential impact on the CFPB and other US financial services regulators.Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.
David Dwyer, senior counsel, joins host Patrick Dolan to discuss the Corporate Transparency Act. David shares insight on substantial control over securitization issuing entities, qualifications for the subsidiary exemption and compliance with the Investment Company Act. Listen and subscribe to the Securitization Insight podcast on Apple Podcasts, Spotify, or your preferred podcast app.
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