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Volume 2017 - Number 35

September 15, 2017

Thriving Market for Securities Backed by Timeshare Loans: Low Delinquencies and Attractive Yields

An affiliate of Interval Leisure Group priced a timeshare securitization last week as the market for such deals keeps humming along. Timeshare securities are backed by vacation ownership interest loans that tend to perform relatively well and carry attractive yields. Some $2.0 billion of timeshare ABS have priced this year, according to S&P Global Ratings. In all of 2016, $2.6 billion of timeshare ABS was issued, according to the Securities Industry and Financial Markets Association. VSE 2017-A VOI Mortgage from ILG is...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.

33%

No. It’s still difficult compliance/regulatory-wise.

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%