As rates stay low, the corporate debt issuance boom continues but recent deals may be among the last for a while until real estate market values become clearer.

Commercial banks boosted their ABS holdings during the first quarter, with much of the gain coming in paper backed by auto loans. TD Bank added $2.2 billion of auto deals to remain the top bank ABS investor. (Includes two data charts.)

The new rule would cover the forward settlement exposure for the counterparties in TBA deals.

Mortgage banking firms have been emulating some of their customers by taking advantage of rock-bottom rates to borrow as much as they can. Should anyone be worried?

The extension rate on loans in auto ABS declined again in February. Still, extensions are elevated compared with a year ago, just before the pandemic hit the economy.

Production of vehicle-finance and business ABS was up sharply in the first quarter. A transaction backed by future cash flows from an airline rewards program played a big part, while student loan and consumer ABS markets also posted big gains. (Includes two data charts.)

“Issue debt while you can.” That seems to be the mantra of nonbank mortgage lenders and even real estate mortgage investment trusts. The latest sellers: UWM and PennyMac.

Mass cancellation of student loans could lower maturity risk on ABS backed by Federal Family Education Loan Program loans, according to Fitch Ratings.

A 30-day average of SOFR would make a good replacement for LIBOR when pricing new MBS and ABS, according to a recommendation from a committee of industry participants convened by the Fed.

JPMorgan Chase Bank’s third risk-sharing deal involving auto ABS is based on a reference pool of loans with an unpaid principal balance of $3.98 billion. The loans will remain on the bank’s books.