Securitization

Discover Bank priced $750 million of bonds backed by credit card receivables over two series of notes.

European collateralized loan obligations are deleveraging more rapidly than might be expected after their reinvestment period ends, according to Fitch Ratings.

The Dallas, TX based timeshare operator was last in the market in 2010.

The deal, Credit Acceptance Auto Loan Trust 2013-2 is the issuer’s second securitization in 2013.

Shellpoint said it made the decision based on the “substantial pricing disconnect” between the whole loan and new issue RMBS secondary markets.

J. G. Wentworth has closed on a $212.7 million issue of bonds backed by structured settlement payments, lottery receivables and annuity payments.

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Deutsche Bank and Cantor Fitzgerald are marketing a $1.2 billion of bonds collateralized by 63 commercial mortgage loans, according to Kroll Bond Rating Agency.

The Carlyle Group priced its fourth collateralized loan obligation of the year Friday, bringing U.S. issuance for the year to date to $62.6 billion, according to Thomson Reuters LPC.

A pack of auto-related securitizations totaling over $4 billion are heading for the market, according to pre-sale reports from Fitch Ratings.

JP Morgan is lead manager on the deal, World Omni Automobile Lease Securitization Trust 2013-B.

Banque PSA Finance, a fully owned subsidiary of Peugeot S.A. is marketing its third German auto lease securitization.

GE Capital is preparing $746.576 million of notes backed by equipment loans, according to a regulatory filing.

First National Bank of Omaha is planning to issue a $328.95 million bank credit card ABS through its First Bankcard Master Trust.

Shellpoint, the home lender founded by mortgage-bond pioneer Lewis Ranieri, removed loans made to foreign nationals from its RMBS deal dubbed Shellpoint Asset Funding Trust 2013-2.

F. Van Lanschot Bankiers is working on a new prime Dutch RMBS issue, Lunet RMBS 2013-I, according to a Standard & Poor’s presale report.

The European Commission and European Investment Bank plans to stimulate SME lending via securitization could be ready by January 2014, according to an Economic and Financial Affairs Council.

Sallie Mae said today during its 3Q 2013 conference call that its Federal Family Education Loan Program (FFELP) residual securitization sales have demonstrated good value.

Consumer loan demand weakened slightly in the third quarter in some parts of the country while others saw a small boost, according to the Federal Reserve Board's Beige Book.

The shorter the time a loan is in special servicing, the higher the recovery rate, according to a new analysis from Moody's Investors Service.