Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
Citigroup | 11,170.9 | 1 | 25.2 | 17 |
BANK ONE Corp | 8,556.6 | 2 | 19.3 | 16 |
JP Morgan | 6,328.6 | 3 | 14.3 | 12 |
Barclays Capital | 4,084.7 | 4 | 9.2 | 8 |
Morgan Stanley | 3,954.5 | 5 | 8.9 | 5 |
Banc of America Securities LLC | 2,787.3 | 6 | 6.3 | 9 |
Deutsche Bank AG | 2,209.6 | 7 | 5.0 | 8 |
Credit Suisse First Boston | 1,669.2 | 8 | 3.8 | 5 |
Merrill Lynch & Co Inc | 1,245.0 | 9 | 2.8 | 5 |
Wachovia Corp | 1,153.0 | 10 | 2.6 | 5 |
Industry Total | 44,307.5 | - | 100.0 | 74 |
Source: Thomson Financial |
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The fixed, tax-exempt notes have about 137.5% in expected senior bond parity and 124.1% in subordinate bond parity levels.
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Moody's took note of several credit strengths in the portfolio, including that on a weighted average (WA) basis, the contracts have a weighted average FICO score of 767 and only a point higher for the upsized pool.
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Plaintiffs seeking class certification claim the bank uses an underwriting system that discriminates against minority mortgage applicants.
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The company's attorneys had previously managed to successfully decertify the class in the seven-year long case, but the decision was reversed last year.
April 29