| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| JP Morgan | 5,169.8 | 1 | 42.3 | 6 |
| Banc of America Securities LLC | 4,312.4 | 2 | 35.3 | 6 |
| Wachovia Corp | 962.5 | 3 | 7.9 | 3 |
| Deutsche Bank AG | 516.3 | 4 | 4.2 | 4 |
| HSBC Holdings PLC | 500.0 | 5* | 4.1 | 1 |
| Citigroup | 500.0 | 5* | 4.1 | 1 |
| Lehman Brothers | 266.3 | 7 | 2.2 | 3 |
| Industry Total | 12,227.2 | - | 100.0 | 20 |
| Source: Thomson Financial | ||||
The deal includes recently introduced senior first class flow (A-1FCF) and last cash flow (A-1LCF) tranches, which benefit from credit enhancement levels of 24.70%.
Refinancing activity continues to build on last year's momentum, despite some divergence among property types.
Canyon ABF Partners will provide capital to specialty lenders and regional banks and be a rapid acquisition and structuring vehicle for primary and secondary loans on a range of assets.
Approximately 54% of homeowners looked to a second lien product to access their home's stored value in the first quarter due to the "lock-in effect."
The Federal Reserve governor warned in a speech Saturday that lower capital requirements and lighter supervision could create a credit 'sugar high' that could spur excessive risk-taking, with potentially significant long-term consequences.
Self-employed borrowers represent just 23.1% of the pool, and liquid reserves were $858,428 compared with 21.9% and $1 million.
