Strong performance of outstanding marketplace consumer loan ABS is bringing issuers and investors back to the market. But default risks will likely increase through the remainder of the year, according to analysts.
Production levels surged for agency 1-4-family MBS, non-mortgage ABS and commercial MBS from the second to the third quarter. Nonbanks continued to dominate the agency market. Includes three data charts.)
ABS tied to Bojangles, powersports equipment and airline mileage programs recently hit the market. Meanwhile, a whole-business ABS from Planet Fitness was downgraded.
Issuance of ABS tied to marine container leases set sail in August, with the sector producing more volume in recent weeks than all of 2018 and 2019 combined.
The bull market in debt offerings by mortgage-related vendors continues. The latest participant: ICE, which is buying Ellie Mae for a stunning $11 billion.
Investors continue their attraction to mortgage-related offerings, debt or otherwise. The latest firm to saddle up to the capital markets bar: Mr. Cooper.