Consumer ABS

Participants at ABS East held forth on value opportunities in securitization and how increases in interest rates, loosening underwriting standards and the debt ceiling stalement ought to inform investor behavior over the short-to-medium term.

American consumers continue to shed debt and cut down on their late payments - with the notable exception of student loans. But does this mean that originations are going to rev up soon?

Wells Fargo said in a report today that without an increase in credit cards and student loan deals, the securitization volume of consumer assets aren’t likely to grow either.

Barclays priced its first deal issued this year from the bank’s Dryrock credit card securitization trust.

Barclays plans to market the first deal issued this year from the bank’s credit card securitization trust called Dryrock.

Eaglewood Capital Management issued the first securitization of peer-to-peer consumer loans on Friday.

Consumer Portfolio Services has closed its third term securitization in 2013, a $205 million subprime auto loan deal.

Chase Bank priced its $775 million credit card receivables securitization on Wednesday.

The proposed risk retention rules will limit structuring options for issuers of student loan securitizations looking for lower advance rates, according to a Fitch Ratings report.