| MANAGER ACTIVITY | ||||
| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| REAL ESTATE ABS | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Countrywide Securities Corp | 17,968.1 | 1 | 11.1 | 18 |
| Royal Bank of Scotland Group | 17,620.3 | 2 | 10.9 | 32 |
| Lehman Brothers | 17,181.0 | 3 | 10.6 | 30 |
| Bear Stearns & Co Inc | 12,349.6 | 4 | 7.6 | 25 |
| Deutsche Bank AG | 11,898.5 | 5 | 7.4 | 33 |
| Morgan Stanley | 11,872.9 | 6 | 7.4 | 23 |
| Citigroup | 11,325.4 | 7 | 7.0 | 33 |
| Credit Suisse First Boston | 11,016.2 | 8 | 6.8 | 23 |
| Merrill Lynch & Co Inc | 9,919.5 | 9 | 6.1 | 18 |
| Banc of America Securities LLC | 8,820.5 | 10 | 5.5 | 28 |
| Industry Total | 161,540.9 | – | 100.0 | 288 |
| Source: Thomson Financial | ||||
More From Asset Securitization Report
Home improvement loans secure $389 million in ABS from GoodLeap
GDLP 2026-2 also has lower levels of initial credit enhancement compared to GDLP 2026-1, at 6.12% versus 5.74%; overcollateralization at 23.90% versus 24.92% and total gross excess spread of 5.55% versus 5.98%.
NEF Holdings raises $251.6 million in equipment ABS
SLR series 2026-1 benefits from initial overcollateralization of 8.00%, with a target of either 13% of the pool's aggregate ABS value or 8.00% of the securitization value on May 31.
Auto ABS suffers the most in a K-shaped economy
Subprime auto and unsecured consumer loans are under pressure even as overall ABS performance remains steady.
Subprime autos back GCAR’s latest ABS issuance, raising $907 million
Total initial credit enhancement increased to 11.40% for the class D notes, from 11.25%. It also decreased for classes B, C and E, and levels on the class A notes stayed the same.
Commercial real estate market bucks rising delinquencies
Private-label CMBS loan delinquencies are rising, but ample liquidity is making 2025 issuance volume the highest since 2007.