The banking industry continued to show tepid interest in the non-mortgage ABS market as 2017 came to a close, according to a new Inside MBS & ABS ranking and analysis.
The consumer credit cycle seems to be weakening, given current credit trends in consumer ABS, analysts at Wells Fargo Securities said in a new report. They see the solution as being broad economic growth.
A subsidiary of Tesla issued its first ABS backed by auto leases this week and the electric car manufacturer plans to issue more deals going forward. The $608.1 million deal received AAA ratings from Moody’s Investors Service even though concerns were raised about various issues involving the transaction.
Credit card issuers will probably have a good 2018, much like they did last year, but some dark clouds are beginning to appear on the horizon, according to a new report from DBRS.
A huge rebound in securitization of credit-card receivables in 2017 helped boost the non-mortgage ABS market to a significant 21.2 percent increase in new issuance, according to a new rank-ing and analysis by Inside MBS & ABS.
A subsidiary of DRB Capital is set to issue a $59.9 million ABS backed by annuities and life-contingent structured settlement receivables. The deal received AAA ratings from Morningstar Credit Ratings late last week.
Commercial banks and savings institutions are not major investors in the non-mortgage ABS market, and their holdings slipped again during the third quarter of 2017, according to a newInside MBS & ABS ranking and analysis.
Industry fundamentals in the auto ABS sector are improving in the wake of the hurricanes, ac-cording to a report by a pair of analysts at Wells Fargo Securities.
New production of non-mortgage ABS slackened during the third quarter as several key sectors retreated from unusually strong volume numbers in the previous three-month period. A new Inside MBS & ABS ranking and analysis reveals total ABS production fell 16.7 percent from the second quarter to $49.43 billion. That brought year-to-date volume to $162.18 billion, up 15.5 percent from the first nine months of 2016. Unless production tanks in the ... [Includes two data charts]
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