| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Countrywide Securities Corporation | 22,769.0 | 1 | 12.9 | 22 |
| RBS Greenwich Capital | 22,401.2 | 2 | 12.7 | 28 |
| Merrill Lynch, Pierce, Fenner & Smith Inc | 20,927.0 | 3 | 11.8 | 20 |
| Morgan Stanley & Co. Incorporated | 16,597.8 | 4 | 9.4 | 17 |
| Citigroup Global Markets, Inc. | 16,294.0 | 5 | 9.2 | 19 |
| Lehman Brothers Inc. | 16,116.2 | 6 | 9.1 | 21 |
| Banc of America Securities LLC | 15,106.0 | 7 | 8.5 | 22 |
| Bear Stearns & Co. Inc. | 13,105.5 | 8 | 7.4 | 21 |
| Deutsche Bank Securities, Inc. | 10,662.8 | 9 | 6.0 | 14 |
| JP Morgan Securities | 9,671.9 | 10 | 5.5 | 11 |
| Industry Total | 176,736.8 | - | 100.0 | 220 |
| Source: Thomson Financial | ||||
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The initial overcollateralization level was 14.50%, an increase from 14.00%. Target overcollateralization, meanwhile, increased to 18.75, compared with 16.50% on the previous deal.
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Figure Lending originated the HELOCs using the FICO 9 scoring model, which treats medical debt, rental payments and repaid collection accounts differently.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday morning that she is working with other regulators around the world to emphasize innovation in the banking sector, including with artificial intelligence.
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