| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| JP Morgan Securities Inc. | 5,939.19 | 1 | 23% | 7 |
| Wachovia Securities | 3,646.46 | 2 | 14% | 4 |
| Banc of America Securities LLC | 3,350.65 | 3 | 13% | 3 |
| Barclays Capital | 2,960.28 | 4 | 11% | 3 |
| ABN AMRO Incorporated | 2,322.9 | 5 | 9% | 2 |
| Industry | 14,244.27 | 16 | ||
| totals | ||||
| | ||||
GDLP 2026-2 also has lower levels of initial credit enhancement compared to GDLP 2026-1, at 6.12% versus 5.74%; overcollateralization at 23.90% versus 24.92% and total gross excess spread of 5.55% versus 5.98%.
Federal Reserve Vice Chair for Supervision Michelle Bowman Friday highlighted a pair of new provisions to the final stress test framework that arose from public commentary submitted to the agency last year.
To keep cash flowing to the notes, the deal's senior notes have an interest reserve account covering three months' worth of class A note interest payments and fees.
With 55% of homeowners planning to renovate rather than relocate, demand for home improvement capital will be strong even if the purchase market slows further.
Classes A-1FCF through A-1F will repay noteholders on a pro rata basis, while classes A2 through B3 will be repaid sequentially.
Last week's bond market turmoil continued leading up to the FOMC decision on Wednesday, pushing the 30-year fixed to near or over 7%, depending on the source.
