Consumer ABS

American Express is in the market with a $864 million credit card securitization from the bank's American Express Credit Account Master Trust Series 2011-2.

The recent prime auto ABS spread movements and new-issue pricing show that ABS investor demand for the product might be somewhat uneven, according to a Wells Fargo report released this afternoon.

PIMCO has boosted its portfolio management analytics team by appointing three new investment professionals in its New York and London offices.

The Financial Industry Regulatory Authority's (FINRA) Trade Reporting and Compliance Engine (TRACE) pilot program that requires firms to report an ABS transaction no later than the business day after the date of execution will expire on Nov. 18.

Auto-backed securitizations continue to drive issuance volumes in the consumer ABS space. Several deals were announced on Monday to kick off the week's activity.

First Marblehead experienced a net loss increase of $23.0 million from the previous year's comparable quarter.

SLM Corp., better known as Sallie Mae, is in the market with a SLABS 144A deal from its SLM Private Education Loan Trust 2011-C.

Banque PSA Finance will issue a €500 million ($687 million)securitization of auto loan receivables.

The CMBS delinquency rate considerably rose in October, according to Trepp. October showed delinquency rates for U.S. commercial real estate (CRE) loans in CMBS increasing 21 basis points to 9.77%.

Europe might be feeling great uncertainty over how to resolve its sovereign debt crisis, but its securitization market has still managed to restart.