Thanks to its mortgage-lending unit, General Motors Acceptance Corp. is the leading issuer of ABS through the first three quarters of the year, according to Thomson Financial. With GMAC-RFC accounting for the bulk of its $44.2 billion in total securitized assets, GMAC has sold more than twice the ABS supply than the second-leading seller this year.
Sallie Mae, with 11 term securitizations priced through Q403, is responsible for $17.6 billion of supply, and the bulk of the student loan sector.
Lehman Brothers' SASCO and SAIL vehicles have totaled $16.7 billion of ABS supply this year and Morgan Stanley has brought $15.3 billion to the market.
With 15 mortgage-related transactions, from two issuance vehicles, AmeriQuest Mortgage has priced $14.9 billion of term ABS, making it the fifth-leading ABS issuer thus far in the year.
Other notables include Citibank N.A., which has sold $14 billion of mostly credit card ABS and Chase Manhattan Bank N.A., responsible for $13.4 billion of ABS, making the large financial institutions the sixth and seventh-leading issuers of ABS, respectively.
MBNA Corp. has sold $8 billion through the first nine months of the year, making it the eleventh-leading securitizer while Capital One Financial, sitting on the sidelines for the first two-and-a-half months of the year, places at No. 19, having priced $5.4 billion.