New issues rushed into the primary market last week, as volume topped $14.5 billion with just two weeks to go before the asset-backed market shuts down for the annual ABS East conference in Boca Raton, Florida. Over $7.5 billion of home-equity supply made the rounds, of which nearly $4 billion was originated by the same mortgage lender. Student loan collateral topped $3 billion and "other" assets accounted or another $1.7 billion.

The largest offering seen last week, $3 billion (USD equivalent) of student loan ABS from Sallie Mae, its tenth term ABS of the year, showed how SLM Corp continually has expanded its investor base throughout the year. The deal offered dollar, euro, sterling and auction-rate securities via the three-way lead of Credit Suisse First Boston, Deutsche Bank Securities and Merrill Lynch.

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