Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
Banc of America Securities LLC | 13,883.7 | 1 | 41.5 | 6 |
JP Morgan Securities | 13,216.6 | 2 | 39.5 | 5 |
Deutsche Bank Securities, Inc. | 10,054.5 | 3 | 30.1 | 5 |
Credit Suisse Securities (USA) LLC | 9,748.8 | 4 | 29.1 | 4 |
Barclays Capital | 8,836.0 | 5 | 26.4 | 2 |
Goldman Sachs & Co | 6,883.0 | 6 | 20.6 | 3 |
Morgan Stanley & Co. Incorporated | 6,270.3 | 7 | 18.7 | 2 |
Wachovia Securities | 4,806.0 | 8 | 14.4 | 1 |
Lehman Brothers Inc. | 4,142.0 | 9 | 12.4 | 1 |
Citigroup Global Markets, Inc. | 4,132.6 | 10 | 12.4 | 3 |
Industry Total | 33,443.9 | - | 100.0 | 17 |
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.
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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.
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