| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Merrill Lynch & Co Inc | 497.5 | 1 | 62.0 | 1 |
| Morgan Stanley | 305.0 | 2 | 38.0 | 1 |
| Industry Total | 802.5 | - | 100.0 | 2 |
| Source: Thomson Financial | ||||
Non-qualified loans are the majority of loans in the pool, 59.2%, while loans exempt from the Ability-to-Repay/Qualified Mortgage rule, represent 35.9%.
The 30-year fixed is still over 20 basis points higher than its February bottom, but fell 7 basis points this past week on Iran peace hopes, Freddie Mac said.
February's securitization from Vertical Bridge was the sector's largest-ever deal and included the sector's first single-B rated tranche.
A decline in Middle East travel and higher fuel prices should not put a major dent in the company's performance, execs said Thursday.
Unlike some of FIGRE Trust's previous securitizations, there is no performance trigger related to the net weighted average coupon rate.
Credit risk transfers, a means by which banks can move risk off their balance sheets, earned considerable bipartisan support in a House Financial Services subcommittee hearing Wednesday.
