US Securitization

Small number of investors showing resistance to tightening are not enough to reverse market course

Sandwich chain offers less 'juice' on $750m transaction than rival Subway's last deal back in September

Deal is expected to price early next week as there are at least four live non-QM trades in primary

CMBS has bounced back after shaking off the stigma of office exposure, among other negative headlines, taking advantage of a more stable rates environment to post impressive returns and issuance volumes. There is confidence that an even stronger 2025 is in store, writes Nick Conforti

High mortgage rates were no obstacle to the US RMBS market in 2024 as alternative asset classes came to the fore and credit quality stayed robust. Although the unpredictable outlook for rates remains a market concern, there is every reason to expect the positive trends will continue in 2025, writes Nick Conforti

Sandwich chain joins host of ABS issuers

Demand remains plentiful even bankers say some investors are showing resistance to levels

The proposed $644.5m transaction would be Carvana's seventh securitization of the year

Auto loan origination could be hit if Trump tariffs materialize, though it is too soon to see the whole picture

Spreads could tighten further amid unusually busy final month that should set up mortgage markets for a strong start to 2025

All classes oversubscribed as investors 'need' new issue conduit CMBS to rebalance their index exposure

Asset manager grows risk sharing strategy team amid sustained growth in SRT volumes