Valerie Kay, managing director at Morgan Stanley says, "The last few months have shown that securitisation remains a useful and valid way of accessing the capital markets."
There are still many problems to be dealt with, for example not the entire securitization market is looking healthy. While consumer loans and asset-backed securities are being helped along by the Fed's Term Asset-Backed Securities Loan Facility--the American Securitization Forum is estimating $130 billion in asset-backed securities this year--while commercial mortgage-backed securities are continuing to suffer. This, in turn, harms property developers by causing an inability to locate and secure financing.
To read the complete Financial Times story, click here.
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