| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Citigroup | 3,149.7 | 1 | 28.3 | 5 |
| Deutsche Bank AG | 2,293.1 | 2 | 20.6 | 4 |
| Morgan Stanley | 2,085.9 | 3 | 18.7 | 3 |
| Merrill Lynch & Co Inc | 1,790.7 | 4 | 16.1 | 3 |
| Banc of America Securities LLC | 1,136.7 | 5 | 10.2 | 2 |
| Credit Suisse First Boston | 694.0 | 6 | 6.2 | 1 |
| Industry Total | 11,150.0 | - | 100.0 | 9 |
| Source: Thomson Financial | ||||
At the end of the draw term, HELOC borrowers have a repayment period ranging from 10 to 30 years, and customers cannot draw on the HELOCs during the repayment period.
Almost all five A1 tranches benefit from credit enhancement levels of 26.10%. The A1A tranche, however, has a credit enhancement level of 36.10%.
The Federal Reserve's vice chair outlined the ongoing modernization efforts for the central bank's lending facility of last resort, including coordination with the Federal Home Loan Banks.
The deal's obligor concentrations—its top and top five obligors account for 9.45% and 37.95% of the pool—are reigned in by WEF's focus on mission-critical essential use equipment.
The release of Fannie Mae and Freddie Mac's internal metrics support this process, but other measures will still be needed, according to Bank of America.
Ed Comber, a pioneer in music catalog securitization, also joined the firm as a partner in structured finance and securitization.
