For the second year in a row, Lehman Brothers was ranked No. 1 in issuance of mortgage-backed debt for the second quarter, according to preliminary statistics put out by Securities Data Co.

With $12.6 billion in proceeds, 17.4% of the market share and 46 issues, Lehman outranked PaineWebber and Salomon Smith Barney, which came in second and third, respectively.

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