The Latest

Fannie Mae said Friday it offloaded much of the credit risk on $19.5 billion of mortgages to a group of insurers and reinsurers via two Credit Insurance Risk Transfer (CIRT) transactions.

Provisional ratings were provided Friday to a pair of asset-backed securitizations to Apollo Aviation Group and work-vehicle fleet leasing firm Element Financial Corp.

Underwriting league tables for asset-backed securities for the year through March 18, 2016.

Issuance volume of asset-backed securities for the year through March 18, 2016.

Avis Rent a Car is seeking to issue up to $300 million in securitized notes, in one of its smallest securitizations of its rental car leasing contracts in years through the Avis Budget Rental Car Funding (AESOP) master trust.

The increasingly troubled sector often draws comparisons to the subprime mortgage market of the 2000s. But the more apt analogue is the auto-lending sector of the 1990s.

No surprise, Moody’s Investors Service has not been asked to rate Citigroup’s latest securitization of unsecured consumer loans originated by Prosper Marketplace.

Cerberus Capital Management is marketing its first securitization of re-performing mortgages of the year.

Citigroup and Goldman Sachs are marketing nearly $2 billion of bonds backed by commercial mortgages used to facilitate Blackstone Real Estate Partners VIII’s acquisition of BioMed Realty Trust.