CDOs/CLOs

Because of the lower value investors are placing on subprime loans, New York-based real estate investment trust MortgageIT Inc. is in the process of scaling back earlier plans for a "heavy growth strategy" within the subprime lending market.

NorthStar Realty Finance Corp. is preparing to issue at least two commercial real estate CDOs in the near future. The New York-based real estate investment trust in recent months has made arrangements for warehouse facilities with Banc of America Securities and Wachovia Securities in order to house assets for what will be the company's sixth and seventh CDOs, respectively, to come to the market.

GMAC-RFC disclosed last week data errors with respect to four RMBS deals it services from the RMAC series of RMBS deals. Fitch Ratings, Moody's Investors Service and Standard & Poor's responded by placing the ratings of the four RMAC transactions, totaling GBP3.4 billion ($4 billion), on review.

Year to date as of 11/09 Term (days) 11/03 11/04 11/07 11/08 11/09 1-week

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Deutsche Bank AG 8,969.1 1 12.2 16 Citigroup 8,299.9 2 11.3 14 JP Morgan 8,270.8 3 11.3 13 Merrill Lynch & Co Inc 7,943.7 4 10.8 10 Banc of America Securities LLC 7,695.8 5 10.5 12 Wachovia Corp 7,317.0 6 10.0 14 Barclays Capital 5,998.2 7 8.2 11 Credit Suisse First Boston 5,028.6 8 6.8 10 Goldman Sachs & Co 3,564.1 9 4.9 4 HSBC Holdings PLC 3,334.4 10 4.5 5 Industry Total 73,540.9 - 100.0 70 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Merrill Lynch & Co Inc 19,727.7 1 16.9 29 Citigroup 14,645.2 2 12.6 33 Wachovia Corp 10,491.1 3 9.0 19 Banc of America Securities LLC 9,143.0 4 7.9 28 Bear Stearns & Co Inc 8,941.3 5 7.7 22 Morgan Stanley 8,903.2 6 7.6 31 Deutsche Bank AG 7,080.6 7 6.1 17 UBS 6,056.8 8 5.2 14 Lehman Brothers 5,397.7 9 4.6 17 JP Morgan 5,308.0 10 4.6 14 Industry Total 116,505.9 - 100.0 275 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues JP Morgan 11,945.4 1 24.8 23 Citigroup 9,022.0 2 18.7 21 Barclays Capital 5,140.8 3 10.7 15 Deutsche Bank AG 3,776.4 4 7.8 18 Banc of America Securities LLC 3,759.1 5 7.8 14 Morgan Stanley 3,058.6 6 6.3 5 Lehman Brothers 2,900.0 7 6.0 6 Credit Suisse First Boston 2,250.0 8 4.7 7 ABN AMRO 1,833.2 9 3.8 7 Royal Bank of Scotland Group 1,285.8 10 2.7 5 Industry Total 48,256.2 - 100.0 93 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Morgan Stanley 2,441.7 1 18.3 4 Deutsche Bank AG 2,418.6 2 18.1 4 ABN AMRO 1,643.6 3 12.3 3 Barclays Capital 1,492.5 4 11.2 2 Credit Suisse First Boston 1,243.6 5 9.3 2 Banc of America Securities LLC 750.0 6 5.6 1 Lehman Brothers 725.8 7 5.4 1 JP Morgan 725.8 7 5.4 1 HSBC Holdings PLC 566.7 9 4.2 1 Merrill Lynch & Co Inc 375.0 10 2.8 1 Societe Generale 375.0 10 2.8 1 Industry Total 13,350.2 - 100.0 13 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Countrywide Securities Corp 60,689.4 1 10.6 73 Lehman Brothers 56,798.5 2 9.9 112 Bear Stearns & Co Inc 56,317.5 3 9.8 125 Royal Bank of Scotland Group 51,082.3 4 8.9 83 Credit Suisse First Boston 49,813.0 5 8.7 107 Morgan Stanley 39,899.8 6 7.0 52 Deutsche Bank AG 37,784.1 7 6.6 72 Citigroup 31,494.2 8 5.5 82 Merrill Lynch & Co Inc 30,216.6 9 5.3 47 Banc of America Securities LLC 27,085.6 10 4.7 63 Industry Total 573,099.0 - 100.0 1,140 Source: Thomson Financial

Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Citigroup 11,296.2 1 23.9 15 Deutsche Bank AG 6,238.3 2 13.2 10 Banc of America Securities LLC 5,330.5 3 11.3 9 Merrill Lynch & Co Inc 4,261.6 4 9.0 4 Morgan Stanley 3,883.6 5 8.2 4 Credit Suisse First Boston 3,425.4 6 7.3 6 Goldman Sachs & Co 3,386.1 7 7.2 6 UBS 2,527.7 8 5.4 5 JP Morgan 2,367.4 9 5.0 5 Lehman Brothers 2,138.5 10 4.5 2 Industry Total 47,275.6 - 100.0 40 Source: Thomson Financial