US Securitization
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Another Heloc lender, Figure, also expected to price a Heloc securitization before the month ends -
Rising market volatility might increase the execution rate to around 70%
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At least 23 issuers are lining up to price deals before conference frenzy starts
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◆ Interview with Ares’ Joel Holsinger ◆ How has the EIB transformed SRT? ◆ Reporting from the Opal Summit in London
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Rising interest rates giveth and taketh away to make a bet on house prices too risky
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Expect new supply to be patchy, banker says
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Primary pushes forward and spreads hang tight, likely allowing new issuance to overtake 2023
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Higher rates have made HEI more popular with customers, but they also pose a risk for the housing market
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Navient also joins pipe but there is little expectation of a meaningful pick-up of ABS from the sector
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Office segment again leads increase in late payments, though other property types see little change
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Lone Star, Annaly latest to bring deals to an asset class that has dominated US RMBS this year
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Latest deal lands with tighter spreads but wider all-in cost than March deal
