| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Deutsche Bank AG | 1,375.0 | 1 | 39.7 | 5 |
| JP Morgan | 875.0 | 2 | 25.3 | 4 |
| Citigroup | 500.0 | 3* | 14.4 | 1 |
| Banc One Capital Markets | 500.0 | 3* | 14.4 | 1 |
| Banc of America Securities LLC | 212.0 | 5 | 6.1 | 1 |
| Industry Total | 3,462.1 | - | 100.0 | 6 |
| Source: Thomson Financial | ||||
Aqua Finance's credit enhancements include a sequential pay structure until the class A credit enhancement period is over.
Homeowners won't trade in their cheap mortgages so lenders keep finding other ways to reach that equity. Bond buyers keep showing up.
The new record arrives after five months of annual home-price growth, which surged to its highest in more than a year, according to ICE Mortgage Technology.
Despite the variety of loans in the pool, the vast majority of assets are considered qualified mortgages, with only 10.9% considered non-QM.
The July jobs report was bad, but the context is worse: people leaving the labor force, stubborn inflation and rising bond yields.
Near-term expectations for price growth fell in the latest consumer sentiment survey from the Federal Reserve Bank of New York, but remains above the central bank's target across all time horizons.
