Consumer ABS

Mitsubishi Motors Credit of America (MMCA) is in the market with a prime auto ABS deal called MMCA Auto Owner Trust 2011-A (MMCA 2011-A). Barclays Capital is lead underwriter on the $278.39 million securitization.

CarMax in the market with CarMax Auto Owner Trust 2011-1. The auto ABS, which is reportedly slated to price as early as this week, is worth $650 million.

The Term ABS Loan Facility Loan Facility (TALF) earned $600 million of net interest income to date, which is equal to more than 2-1/2 percent of the TALF loans currently outstanding, according to William Nelson, Federal Reserve Board deputy director in the division of monetary affairs.

It has not even been a week after news broke that Jay Kim, co-head of Barclays Capital's U.S. asset securitization team, will be moving to Credit Suisse in May to head up the bank's asset finance team, bringing with him around 10 Barclays bankers.

Ally Financial said late Wednesday that the U.S. Treasury will be repaid $2.7 billion from the sale of all the Trust Preferred Securities that the agency holds in the bank holding company and mortgage lender.

Consumer Portfolio Services (CPS) announced its $100 million two-year warehouse credit line with UBS Real Estate Securities.

PIMCO this week launched its Select U.K. Income Bond Fund that will invest in high-quality instruments across a broad range of fixed income sectors.

Lawmakers laid out a series of ambitious deadlines in the Dodd-Frank Act, requiring regulators to complete roughly 170 new rules by July.

After waiting ten months, Redwood Trust issued a second Jumbo RMBS, injecting some optimism into the private-label mortgage securitization market.

With economic growth in Argentina having surpassed 8% last year and unemployment diminishing, it is no wonder the country's consumer ABS sector boomed in 2010. Collateral, after all, was in generous supply as more optimistic consumers made purchases on credit. This year, observers said we should expect more of the same, although the pace of economic expansion is projected to be closer to half of last year's figure. Concern about rising delinquencies is moderate for now, and there's none of the bubble anxiety beginning to infect neighboring Brazil.