Consumer ABS

Global securities and investment banking firm Jefferies hired James Fadel as a managing director and head of European structured debt capital markets in London.

The Securities and Exchange Commission (SEC) issued a temporary order yesterday allowing foreign ABS issuers to sell ABS to foreign investors without complying with the SEC’s new rule 17g-5.

Chase USA filed an S-3 with the Securities and Exchange Commission to issue under its Chase Issuance Trust program.

Greg Ousley wants to be a chaperone of sorts for the secondary mortgage market. The chief executive of Global Debt Registry said his company's system, which was designed to track ownership of delinquent credit card debts, can improve upon the widely used Mortgage Electronic Registration System (MERS).

The American Securitization Forum (ASF) reiterated its support for retention requirements tailored to each major asset class and that offer flexibility for the long term, the trade group said in a release today.

Last Friday, CNH Capital America filed an S-3 with the Securities and Exchange Commission (SEC) to issue a potential six-tranche securitization backed by agricultural or construction equipment loans under its program called CNH Equipment Trust.

Banque PSA’s AUTO ABS FCT Compartiment 2010-1 priced this week. The securitization's €500 million ($683 million) triple-A rated tranche priced within guidance levels at 135 basis points over the one-month Euribor.

Even if new loan volume under FFELP will be revmoved, Bank of America Merrill Lynch analysts still expect new-issue SLABS volume for 2011 to be comparable to 2010.

Santander Consumer USA has upsized its Santander Drive Auto Receivables Trust 2010-3 (SDART 2010-3) to $900 million from $675.2 million.

Ireland is the latest country to test the resiliency of European securitization structures against sovereign risk.