| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Citigroup | 1,708.0 | 1 | 40.8 | 3 |
| Credit Suisse First Boston | 1,058.0 | 2 | 25.3 | 3 |
| HSBC Holdings PLC | 708.0 | 3 | 16.9 | 2 |
| Morgan Stanley | 250.0 | 4* | 6.0 | 1 |
| ABN AMRO | 250.0 | 4* | 6.0 | 1 |
| Banc of America Securities LLC | 212.0 | 6 | 5.1 | 1 |
| Industry Total | 4,186.0 | - | 100.0 | 6 |
| Source: Thomson Financial | ||||
Tower Point Capital, the deal's manager, is considered to have one of the largest privately held wireless infrastructure portfolios in the U.S.
Delinquencies also showed signs of overall improvement in March, despite an increase in foreclosure numbers, ICE Mortgage Technology said.
A proposed update to Basel III capital rules from federal banking regulators does not specifically include mortgage insurance as a factor in determining the risk weight for a mortgage loan held on a bank's balance sheet. Industry experts say it should.
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.
