| 2012 | 2011 | 2010 | |
|---|---|---|---|
| ABS (Public + 144A) | 143,716.1 | 85,834.2 | 82,215.6 |
| ABS (Public + 144A excluding CDOs) | 130,172.4 | 79,783.8 | 80,965.3 |
| ABS (Public Only) | 83,886.8 | 43,832.5 | 39,491.2 |
| ABS (144A Only) | 59,829.4 | 42,001.7 | 42,724.3 |
| Non-Agency MBS | 33,218.1 | 45,437.9 | 13,192.7 |
| Agency MBS | 190,415.8 | 253,566.9 | 308,276.8 |
| CMBS | 21,582.6 | 26,152.5 | 15,255.9 |
Self-employed borrowers account for 40.9% of the pool, but they are high earners and the pool has moderate leverage.
A federal judge ruled that the Trump administration's attempt last year to halt funding for the Consumer Financial Protection Bureau was unlawful and unconstitutional. Two other judges have issued similar decisions.
Liability management exercises are driving defaults and complicating recoveries in collateralized loan obligation pools.
Raising $350.2 million in notes, the transaction has borrowers with higher credit quality, though the notes have less excess spread.
Proceeds will allow Abacus to originate more policies and fund general corporate operations. The transaction is also part of Abacus' shift toward recurring, fee-related revenue.
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
