So far this year, $66 billion of new deals have been issued in the ABS market. The prime auto loan ABS sector makes up 25% of total volume, while the combined auto ABS sectors represent 57% of total volume. Meanwhile, student loans comprised 21% of the total loan volume, according to Bank of America Merrill Lynch figures.
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Wesco Distribution, a wholly-owned operating subsidiary of Wesco International, has amended its accounts receivable securitization facility.
August 23 -
In a report released today, DBRS said that RMBS deals should benefit from principal forgiveness as a form of loan modification in the longer term.
August 22 -
BTIG added three high yield sales professionals to its fixed-income group, the New York-based financial services firm said today. It also added two professionals to its convertible bonds group.
August 22 - Europe
The European RMBS sector has continued its modest rebound in terms of performance and new issuance, according to a Standard & Poor's report.
August 22 -
An N.Y. judge is considering a petition of investors to intervene in Bank of America's proposed $8.5 billion MBS settlement.
August 22
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Credit card chargeoff rates are on track to finish the year below the levels at which they entered the recession.
August 22 -
Cerberus Capital Management and Chatham Lodging Trust have pulled out of the deal to buy the assets of 66 hotels from bankrupt lodging company Innkeepers USA Trust.
August 22 -
Wyndham Worldwide Corp. is in the market with Sierra Timeshare 2011-2 Receivables Funding (Sierra Timeshare 2011-2) offering worth $250 million.
August 22 -
The national delinquency rate on outstanding home mortgages ticked up to 8.44% in the second quarter, which means roughly $793.4 billion of residential loans are 30 days or more past due.
August 22 -
CHC Helicopter Corp. has increased an existing trade receivable securitization to $75 billion from $55 billion.
August 22 -
The loan-limit countdown has begun. In lieu of lower loan limits on conforming loans and mortgages insured by the Federal Housing Administration (FHA), some lenders have already stopped taking applications for financing in amounts above $625,500.
August 22 -
The biggest short- and long-term challenges facing commercial real estate (CRE) relate to the large amount of debt maturing between now and 2015, said an executive with Deloitte.
August 19