Despite summer breaking into the third quarter -- typically marking a slow August overseas -- the U.S. ABS primary market rallied in the three-month period ending Sept. 30. More than $138 billion of ABS was placed with investors -- nearly 60% of which was backed by mortgage product.

Fueled by both the continued flow of dealer principal finance issuance vehicles and multiple transactions from independent lenders, the mortgage sector of the entire ABS market accounted for nearly four times the supply of autos, the next largest asset class. Real estate came in at just over $82 billion.

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