| MANAGER ACTIVITY | ||||
| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| CREDIT CARD ABS | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Citigroup | 9,771.7 | 1 | 25.0 | 15 |
| Banc One Capital Markets | 7,901.8 | 2 | 20.2 | 13 |
| JP Morgan | 6,078.6 | 3 | 15.5 | 11 |
| Barclays Capital | 3,834.7 | 4 | 9.8 | 7 |
| Morgan Stanley | 3,579.5 | 5 | 9.2 | 4 |
| Banc of America Securities LLC | 2,537.3 | 6 | 6.5 | 8 |
| Deutsche Bank AG | 2,084.6 | 7 | 5.3 | 7 |
| Credit Suisse First Boston | 1,294.2 | 8 | 3.3 | 4 |
| Lehman Brothers | 823.1 | 9 | 2.1 | 3 |
| Wachovia Corp | 673.0 | 10 | 1.7 | 3 |
| Industry Total | 39,128.4 | – | 100.0 | 63 |
| Source: Thomson Financial | ||||
More From Asset Securitization Report
SAGE Residential raises $463.8 million from closed-end second-line mortgages
The A1 class is broken down into three AAA-rated tranches, made up of initial exchangeable notes that can be exchanged for the exchangeable notes.
PennyMac’s first all-investment property RMBS raises $298.1 million
Classes A1 through A3, which is composed of seven tranches, are expected to pay coupons of 6.39%.
UWM sheds MSRs to ease debt as origination margins slip
The company expects to report net income between $205 million and $220 million, with positive servicing results offset by an originations miss, analysts said.
Non-prime mortgages power Angel Oak’s $250 million offering
A stop advance applies to first-lien loans that are delinquent by 180 days or more, while a stop advance requirement applies to second-lien loans that are delinquent by 60 days or more.
Sequoia Mortgage’s prime pool supports $341.6 million in RMBS
The SEMT 2026-S1 loan count is slightly larger, compared with 671 loans in the SEMT 2025-S2, but they have a lower average loan balance, which seems to track with borrowers' lower median income.
