The Latest

The Higher Education Loan Authority of the State of Missouri plans to issue a $970.8 million Federal Family Education Loan Program (FFELP) –backed student loan securitization deal.

The Trepp CMBS delinquency rate posted a 47 basis point drop in April, its lowest reading in more than two years.

The Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to move ahead with the development of a common securitization platform.

CMBS special servicers had a busy April, liquidating $1.62 billion in loans, according to a Tuesday Trepp report.

Turkish Catastrophe Insurance Pool (TCIP) issued a $400 million catastrophe bond Bosphorus 1 Re Ltd. Series 2013-1.

The Financial Industry Regulatory Authority named Jonathan Sokobin as its chief economist and senior vice president.

Dealer floorplan ABS continues to gain traction as issuance volumes are boosted by rising vehicle sales and the refinancing of maturing transactions.

Standard & Poor’s said that, so far, credit card ABS have surpassed the $8 billion pace set in 2012 but consumer aversion to credit card debt is likely to keep issuance volumes below its forecasted $40 billion total for 2013.

Fitch Ratings said that student loan securitizations backed by rehabilitated Federal Family Education Loan Program (FFELP) loans tend to be riskier than non-rehab FFLEP deals.

Discover Bank plans to issue $550 million of credit card ABS from its Discover Card Execution Note Trust.