Consumer ABS

Commercial lender CIT Group said today it named Neil Wessan a managing director and head of its capital markets group, effective immediately.

Private student lenders are increasingly offering fixed-rate products to borrowers attracted to the stability of the loan.

The idea of a student loan debt bubble looks exaggerated especially when compared to residential mortgages, securitization market experts said.

Moody's Investors Service became the second rating agency to restore Ford Motor Co.’s investment grade rating, a move that allows it to release the assets it uses as collateral for its outstanding loans – including its trademark blue oval symbol.

Sallie Mae will issue at least $6 billion or go up to $10 billion of SLABS this year. However, Kenneth Fischbach, director of capital markets at the firm, is envisioning around $8 billion of SLABS issuance from Sallie in 2012. These remarks were made at the American Securitization Forum annual meeting held this week in Washington D.C.

Panelists at this week's American Securitization Forum annual meeting drew comparisons between the mortgage market bubble to the one that is happening right now in student loans.

BNP Paribas has a €437million ($558 million) securitization of French auto loans.

A new auto fleet lease deal and equipment lease securitization join the consumer ABS primary pipeline this week.

ABS sector spreads have steadily tightened over the past year, according JPMorgan Securities' most recent weekly. This tightening has been caused by both by improving credit and negative net supply.

Standard & Poor's today released research on the role of credit ratings in the financial system.