Securitization

Enterprise Fleet Management is planning a $700 million fleet lease securitization, according to ratings agency presale reports, its first of the year.

Delinquencies on securitized timeshare loans increased to 3.55% in the fourth quarter of from 3.28% in the third quarter, according to the latest index results from Fitch Ratings.

JP Morgan Securities is marketing a $399 million collateralized loan obligation for Greywolf Capital Management, the firm's first deal since the financial crisis.

Santander Consumer USA plans to issue a $1.3 billion subprime auto loan ABS.

The Federal Housing Finance Agency is moving ahead with plans to create a new securitization platform that will one day serve as a public utility for the issuance of mortgage-backed securities.

American Tower Corporation, the U.S. wireless tower operator plans to issue $1.8 billion of securities backed by interests in mortgage loans made to borrowers that are all wholly owned indirect subsidiaries of the issuer.

The catastrophe bond market proved to be a pretty safe place to invest last year, returning 10.28%, notwithstanding the damage Hurricane Sandy inflicted on the eastern seaboard of the U.S.

Analysts at Bank of America Merrill Lynch have a beef with new rules from the Basel Committee on Banking Supervision (BCBS) that spell out how much regulatory capital needs to be set aside for securitizations.

Delinquencies on loans that back commercial mortgage securities fell for the second consecutive month in February, to their lowest level in a year, according to a report published Monday.

As many as 20 board members have resigned from the American Securitization Forum in a dispute over control of the trade group.

Moody's Investors Service and Fitch Ratings assigned provisional ratings of ‘P-1’/ ‘F-1’ to Wells Fargo’s $100 million term ABS, Series 2013-MM1 deal that is backed by collateralized servicer advance receivables.

The market for private credit student loans ABS opened up last week with a Sallie Mae deal that offered access to the first subordinate class of these bonds, since 2007.

The MBS market’s performance has been somewhat more directional with interest rates since Federal Reserve Board Chairman Ben Bernanke's semiannual Humphrey-Hawkins testimony.

View the year-to-date manager rankings through Feb. 22 for the different ABS sectors, including real estate, credit cards and autos.

The lack of U.K. RMBS is pushing down overall European securitization issuance and could drive investors to look for product outside of this usual comfort zone.

Citigroup plans to issue a $240 million CMBS large loan transaction backed by a shopping mall, called Citigroup Commercial Mortgage Trust 2013-SMP.

The European Covered Bond Council’s labeling initiative needs a broader market take-up in order to meaningfully impact volumes, said analysts at Standard &Poor’s.

European CMBS had a bad start to 2013 with January recording the highest number of loan maturities in a single month, according to Standard & Poor’s.

Abercrombie & Fitch’s recently announced store closures may be a harbinger of things to come for other retailers, a potential concern for commercial mortgage backed securities, according to Fitch Ratings.

Credit Suisse’s first residential mortgage securitization of 2013 made some improvements to representations and warranties relative to the issuer’s its past post-crisis jumbo deals; but still weaker than the standards set by Redwood Trust’s RMBS deals.