SFA Research Corner: Securitization Issuance Subdued in First Half of 2023
Provided by Structured Finance Association
New issuance of securitized products reached $744 billion in the first half of 2022. Private market securitization volumes are down 45% compared to the first half of 2022. The decline has been led primarily by non-agency RMBS and CMBS volumes which fell by 80% and 73%, respectively, as higher interest rates negatively impact lending activity. Two bright spots amidst the widespread decline has been auto ABS, which increased 18% year-over-year, and middle-market CLOs, where issuance more than doubled over the same period. Read More.