Bear Stearns placed first in the 2004 manager activity rankings for combined agency and non-agency RMBS, according to final Thomson Financial league tables, a departure from recent history where UBS reigned as the undisputed top MBS underwriter.

Bear Stearns took the top spot with $90 billion sold and a 12.3% market share; significantly outdistancing second placer UBS, which only sold $79.4 billion in proceeds, good for a 10.9% market share.

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