The growth of asset securitization over the past six years has been, by all measures, impressive. The year 1991 witnessed 103 public market securitized issues aggregating $52.5 billion, compared with six issues and a $712 million volume in 1985.
Not bad. But where do we go from here? Inquiring investors, underwriters, and credit enhancers all want to know. The answer has important bottomline profitability implications for each of them.