| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Lehman Brothers | 21,883.0 | 1 | 14.2 | 54 |
| Countrywide Securities Corp | 14,477.3 | 2 | 9.4 | 24 |
| Royal Bank of Scotland Group | 13,292.6 | 3 | 8.6 | 30 |
| Citigroup | 12,967.4 | 4 | 8.4 | 33 |
| Morgan Stanley | 12,447.8 | 5 | 8.1 | 28 |
| Banc of America Securities LLC | 11,067.3 | 6 | 7.2 | 30 |
| JP Morgan | 10,978.0 | 7 | 7.1 | 16 |
| Deutsche Bank AG | 10,255.2 | 8 | 6.6 | 25 |
| Credit Suisse First Boston | 9,927.1 | 9 | 6.4 | 25 |
| Bear Stearns & Co Inc | 7,603.8 | 10 | 4.9 | 17 |
| Industry Total | 154,522.5 | - | 100.0 | 281 |
| Source: Thomson Financial | ||||
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The deal saw notable changes from SCLP 2021-1, especially an increase in target and initial overcollateralization.
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Fintech firm IntraFi's most recent quarterly survey of bank executives showed rising pessimism among bankers related to "instability in Washington," as well as growing concerns about technology-enabled fraud.
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Tower Point Capital, the deal's manager, is considered to have one of the largest privately held wireless infrastructure portfolios in the U.S.
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Delinquencies also showed signs of overall improvement in March, despite an increase in foreclosure numbers, ICE Mortgage Technology said.
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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.
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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%.
April 23









