The U.S. RMBS manager league tables played out like a game of musical chairs in the first half of 2007. Lehman Brothers took the lead with a 10.7% share of the market, up from its position at number three in the first half of 2006, according to data from Thomson Financial. The bank slid into first place with $59.56 billion in agency and non-agency RMBS in 62 issues.

While Bear Stearns led the second quarter with $31.94 billion in volume and an 11% share of the market, the bank clocked in at number two for the first half of the year, holding onto a 9.5% market share with $52.9 billion in volume. JPMorgan Securities rivaled Bear with $52.21 billion in volume, rising three notches to take third place from its position at sixth in the first half of 2006.

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