Much like the home equity sector, the student loan sector of the ABS market is booming on an unprecedented refinance wave that has boosted issuance to what will likely end up being record levels. To date, the term market has absorbed nearly $20 billion of student loan paper, but the first-half pace is not expected to continue.
With the nearly $20 billion sold to date, the market is on pace to break the volume record of $26 billion sold just last year. With its current pace of nine deals for nearly $17 billion, Sallie Mae could top that record by itself, although that is seen as unlikely. "It's been a fairly active pipeline so far, but activity is going to be much …
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