Auto-loan securitization remained the biggest ABS sector, but business-finance deals recorded the biggest third-quarter increase. Delta’s air-mile deal set the pace. (Includes two data charts.)
The payment deferral option will go a long way in providing a much more seamless way for borrowers to get back on track in paying their mortgages, according to the CEOs of Fannie and Freddie.
Issuers of prime non-agency MBS are completing deals with mortgages originated after the market volatility of March while expanded-credit MBS continue to be stocked with older loans.
Growing student debt has exposed ABS backed by such loans to elevated risks, increasing the possibility the notes will not pay off by their final maturities.
The GSE expanded its footprint in the long-term debt market this year, issuing $165.72 billion of instruments as of Aug. 31, compared to $21.55 billion for all of 2019.
Prime jumbo MBS production posted the biggest increase of any sector, rising 177% from the second quarter, while ECM securitization was up 14% in the third quarter. (Includes three data charts.)
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