Auto-loan securitization remained the biggest ABS sector, but business-finance deals recorded the biggest third-quarter increase. Delta’s air-mile deal set the pace. (Includes two data charts.)
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Delinquencies in auto securitizations increased in August, the first uptick in five months. But losses were at record low levels during the month.
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The payment deferral option will go a long way in providing a much more seamless way for borrowers to get back on track in paying their mortgages, according to the CEOs of Fannie and Freddie.
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Issuers of prime non-agency MBS are completing deals with mortgages originated after the market volatility of March while expanded-credit MBS continue to be stocked with older loans.
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Growing student debt has exposed ABS backed by such loans to elevated risks, increasing the possibility the notes will not pay off by their final maturities.
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The GSE expanded its footprint in the long-term debt market this year, issuing $165.72 billion of instruments as of Aug. 31, compared to $21.55 billion for all of 2019.
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