Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
Morgan Stanley | 4,560.9 | 1 | 15.1 | 7 |
Deutsche Bank AG | 4,144.5 | 2 | 13.7 | 6 |
Lehman Brothers | 3,825.7 | 3 | 12.6 | 5 |
Credit Suisse First Boston | 3,550.7 | 4 | 11.7 | 7 |
Bear Stearns & Co Inc | 2,368.5 | 5 | 7.8 | 3 |
Royal Bank of Scotland Group | 2,095.6 | 6 | 6.9 | 5 |
Banc of America Securities LLC | 1,660.4 | 7 | 5.5 | 4 |
Citigroup | 1,591.6 | 8 | 5.3 | 4 |
JP Morgan | 1,342.3 | 9 | 4.4 | 2 |
Merrill Lynch & Co Inc | 1,250.0 | 10 | 4.1 | 2 |
Industry Total | 30,314.2 | - | 100.0 | 43 |
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.
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