Joy Wiltermuth is a reporter at IFR, where she writes about the securitisation market. In the past five years, she has written about new types of mortgage bond deals hatched since the financial crisis, litigation and regulation. She was previously a reporter for Debtwire in New York and also worked for Institutional Investor.
Investors who bought some of the riskiest sub-prime auto loan bonds last year have racked up windfall profits, as the doomsday scenario that market doubters expected never came to pass.
ABS issuers made a dash to price US$4.6bn of supply in the week before many investors and bankers begin taking time off in August.
Online lender Prosper Marketplace has hired Credit Suisse and Jefferies to sell a US$501m bond issue backed by its consumer loans, according to deal documents viewed by IFR.