| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Wachovia Securities | 11,161.4 | 1 | 27.1 | 11 |
| JP Morgan Securities Inc. | 10,460.2 | 2 | 25.4 | 10 |
| Banc of America Securities LLC | 10,288.9 | 3 | 25.0 | 8 |
| ABN AMRO Incorporated | 7,181.7 | 4 | 17.4 | 5 |
| Credit Suisse Securities (USA) LLC | 6,816.6 | 5 | 16.5 | 5 |
| Citigroup Global Markets, Inc. | 6,747.9 | 6 | 16.4 | 6 |
| Deutsche Bank Securities, Inc. | 5,206.9 | 7 | 12.6 | 5 |
| RBS Greenwich Capital | 4,881.5 | 8 | 11.8 | 5 |
| Barclays Capital | 4,837.2 | 9 | 11.7 | 4 |
| Merrill Lynch, Pierce, Fenner & Smith Inc | 4,357.7 | 10 | 10.6 | 4 |
| Industry Total | 41,199.8 | - | 100.0 | 42 |
| Source: Thomson Financial | ||||
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The initial overcollateralization level was 14.50%, an increase from 14.00%. Target overcollateralization, meanwhile, increased to 18.75, compared with 16.50% on the previous deal.
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Figure Lending originated the HELOCs using the FICO 9 scoring model, which treats medical debt, rental payments and repaid collection accounts differently.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday morning that she is working with other regulators around the world to emphasize innovation in the banking sector, including with artificial intelligence.
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Analysts at KBRA estimate a base case loss of 4.8%, down from the estimated loss of 5.6% on the 2025-1 series.
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