Insights Library

Latest from the Insights Library

Anatomy of a Fraud: Double-Pledging Explained in the Wake of Tricolor

Topic: Securitization

In the wake of the collapse of Tricolor Holdings, the term double-pledging has resurfaced. But what does it actually mean in the context of warehouse lending and ABS? I break down the mechanics, the UCC framework, and the operational weak points that can turn “perfection” into something far less than perfect.

From the Insights Library

When Oversight Meets the Unknowable: Tricolor’s Collapse and the Limits of Fraud Detection in ABS

Topic: Securitization

Tricolor’s Chapter 7 filing was sudden and unexpected. Collateral performance looked fine. Yet alleged fraud has left investors blindsided. My latest article looks at what this means for consumer ABS: the limits of trustees and backup servicers, and where oversight may need to evolve.