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ABS exit seen for long-time subprime auto lender Union Acceptance Corp. Monoline MBIA in court to force servicing transfer

No one, it seems, can doubt these are tough times for the securitization market. With just over one-and-a-half months left in the year, 2002 will likely set multiple precedents in terms of servicer transfers, early amortization and issuer bankruptcies.

On the forefront, bankrupt independent finance concern Union Acceptance Corp....

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