ABS

Sallie Mae plans to issue SLM Private Education Loan Trust 2013-3, its third student loan-backed securitization of the year, totaling $1.246 billion.

PHH Corp. priced an upsized $700 million auto lease securitization called PHH Chesapeake Funding LLC 2013-1 today. The deal was originally sized at $450 million.

There's growing interest in bonds backed by shipping container leases, and this could prompt underwriters to structure deals with higher-rated tranches, according to DBRS.

Nationstar priced $2.0 billion of advance securitizations that will provide an incremental 1.75% interest rate savings to existing advance credit facilities.

Covered bonds backed by loans to small and medium-sized enterprises have gained traction in Europe as and alternative to bank financing and other debt instruments, according to Moody's Investors Service.

The Securities and Exchange Commission approved a plan to overhaul regulation of money market funds, which are some of the biggest buyers of asset-backed commercial paper.

View the year-to-date manager rankings through May 24 for the different ABS sectors, including real estate, credit cards and autos.

In late April, the Turkish Catastrophe Insurance Pool issued its first catastrophe bond; conditions would seem are ripe for other emerging markets to follow suit.

Nationstar plans to issue over $2 billion in servicer advance and deferred servicing fee receivables-backed bonds.

The Consumer Financial Protection Bureau is pushing for private student lenders and the government to help lower payments for borrowers after receiving thousands of complaints from consumers.

The latest generation of European CLOs may expose investors to a risk that didn’t exist in most collateralized loan obligations issued before the financial crisis: fluctuations in foreign exchange rates.

The Structured Finance Industry Group’s first executive director hails from an issuer.

Issuance of securitizations of prime auto loans is falling short of the pace in 2012, a trend that analysts from Wells Fargo ascribe partly to a shift in consumer behavior from buying to leasing.

The Prime Collateralised Securities initiative, announced a year ago, has been adopted by issuers but it still gaining credibility with regulators.

As the U.S. hurricane season approaches, catastrophe bond sponsors are taking advantage of a surge in investor enthusiasm to renew existing deals at much lower rates and expand or initiate programs.

Allianz completed a $175 million catastrophe bond providing reinsurance against North American windstorms and earthquakes.

FeatherStone Investment Group is working on its first securitization of rental income; the deal should be completed in the next 90 to 120 days.

Ohio’s FirstEnergy Corp. subsidiaries, the Cleveland Electric Illuminating Company, Ohio Edison and Toledo Edison - are planning a $505 million utility securitization.

DBRS said that the automated underwriting used by non-bank specialty finance companies has led to a pick-up in small, unsecured business lending. These lenders are now considering ABS issuance.