Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
Countrywide Securities | 22,769.0 | 1 | 13.8 | 22 |
RBS Greenwich Capital | 21,197.3 | 2 | 12.9 | 26 |
Merrill Lynch | 19,376.6 | 3 | 11.8 | 19 |
Morgan Stanley | 15,607.5 | 4 | 9.5 | 16 |
Lehman Brothers | 15,601.2 | 5 | 9.5 | 19 |
Banc of America Securities | 15,106.0 | 6 | 9.2 | 21 |
Citigroup Global Markets | 14,225.5 | 7 | 8.6 | 17 |
Bear Stearns | 13,105.5 | 8 | 8.0 | 21 |
Deutsche Bank Securities | 10,264.8 | 9 | 6.2 | 13 |
JPMorgan Securities | 9,093.3 | 10 | 5.5 | 10 |
Industry Total | 164,821.7 | - | 100.0 | 205 |
Source: Thomson Financial |
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The trust employs a 24-month revolving period. There is an increased risk that collateral quality could deteriorate as the transaction evolves with new collateral.
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The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
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Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
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Aside from the cash flow stabilization, another credit positive to the deal, TAH Operations is property manager to the portfolio, and has strong processes and controls.
March 27 -
Four tranches of class A notes make up the capital structure, and they all benefit from 3.00% in total initial hard credit enhancement.
March 26 -
Seven of the loans, 27.7% of the pool balance, are secured by multiple properties or have a component of cross-collateralization, benefitting from greater cash flow stability.
March 26