The U.S ABS primary market had another solid week pricing close to $10 billion in new issue as of press time Thursday evening. Real estate ABS made up roughly half of that volume.
Meritage Mortgage accounted for $1.12 billion of the real estate sector with a traditional home equity floater via RBS Greenwich Capital. The 2.53-year triple-A rated notes priced with guidance at 33 basis points over one-month Libor. Down in credit, spreads tightened slightly with the single-A and triple-B notes both coming five points inside of guidance at 140 and 195 points, respectively.