Non-Mortgage ABS Production Gathers Steam in 2Q Despite Slowing Auto Sector
July 19, 2002
The non-mortgage ABS market rebounded solidly during the second quarter as new issuance surged 30.6 percent, carried largely by heavy credit card securitization, a new Inside MBS & ABS analysis reveals. Production of new non-mortgage ABSs climbed from $47.64 billion during the first quarter to $62.20 billion in the second, bringing year-to-date issuance up to $109.84 billion. Although that’s off 16.6 percent from the