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With the recent volatility in the asset-backed market, investors - who get hardest hit when the going gets tough- should let their voices be heard louder, said participants at the "Investors' Perspective" panel at the American Securitization Forum's ASF 2004 conference.
February 2 -
The $1 billion manufactured housing portfolio that caused the Federal Home Loan Banks of New York so much trouble late last year - prompting a $169 million loss - resurfaced recently in a $252 million shelf offering from Credit Suisse First Boston's Asset Backed Securities Corp. issuance vehicle. Essentially a re-REMIC, this represents CSFB's first securitization of MH collateral from its principal finance vehicle - which, sources speculate, could account for a financial windfall for CSFB.
February 2 -
It was an exciting week of news in credit cards, as five high-profile issuers made the headlines in one way or another. Top-tier card issuers American Express and MBNA America Bank announced a first-of-its kind alliance. Former top-tier issuer Capital One Financial came one step closer to being top-tier again, and subprime specialist CompuCredit Corp. closed a transaction backed by loans it acquired from Providian Financial.
February 2 -
Year to date as of 02/04 Term (days) 01/29 01/30 02/02 02/03 02/04 1-week
February 2 -
2003 2002 2001 ABS (Public and 144A) 26,806 29,821 24,577 ABS (Public and 144A excluding CDOs) 26,806 28,986 24,128 ABS (Public Only) 22,402 27,169 22,756 ABS (144A Only) 4,404 2,652 1,821 Non-Agency MBS 1,846 14,637 9,578 Agency MBS 4,572 97,289 32,058 CMBS 418 2,337 649 Source: Thomson Financial
February 2 -
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 2,646.1 1 66.2 2 Citigroup 1,000.0 2 25.0 1 Credit Suisse First Boston 350.0 3 8.8 1 Industry Total 3,996.1 - 100.0 4 Source: Thomson Financial
February 2 -
Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues - - - - - Industry Total - - - - Source: Thomson Financial
February 2 -
Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues Citigroup 1,599.6 1 66.6 2 Merrill Lynch & Co Inc 452.2 2 18.8 1 Lehman Brothers 250.0 3 10.4 1 Wachovia Corp 100.0 4 4.2 1 Industry Total 2,401.8 - 100.0 4 Source: Thomson Financial
February 2 -
Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market Managers Proceeds (mils) Rank Mkt. Share # of Issues - - - - - Industry Total - - - - Source: Thomson Financial
February 2 -
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 4,111.5 1 23.9 5 Credit Suisse First Boston 2,719.8 2 15.8 5 Bear Stearns & Co Inc 1,933.5 3 11.2 3 Citigroup 1,591.6 4 9.2 4 Morgan Stanley 1,560.4 5 9.1 2 JP Morgan 1,342.3 6 7.8 2 Royal Bank of Scotland Group 932.0 7 5.4 3 Barclays Capital 867.3 8 5.0 1 UBS 685.4 9 4.0 1 Wachovia Corp 652.0 10 3.8 2 Industry Total 17,228.4 - 100.0 23 Source: Thomson Financial
February 2
