| MANAGER ACTIVITY | ||||
| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| STUDENT LOAN ABS | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Morgan Stanley | 1,012.6 | 1* | 29.2 | 2 |
| Lehman Brothers | 1,012.6 | 1* | 29.2 | 2 |
| Deutsche Bank AG | 489.9 | 3* | 14.1 | 1 |
| Credit Suisse First Boston | 489.9 | 3* | 14.1 | 1 |
| RBC Capital Markets | 462.0 | 5 | 13.3 | 1 |
| Industry Total | 3,466.9 | – | 100.0 | 4 |
| Source: Thomson Financial | ||||
More From Asset Securitization Report
Portfolio managers expect spike in defaults, wider spreads
In the midst of increasing economic and geopolitical risks, portfolio managers expect global defaults and credit spreads to rise in the latest IAPCM survey.
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.
Inflation uptick puts pressure on Fed to hike again
The consumer price index increased 3.7% in September, potentially dashing market hopes that the Federal Reserve might delay raising interest rates later this month.
Pennymac, UWM, loanDepot lag in RMBS issuance as Rocket grabs share
Agency activity dropped off by 4% in September while non-qualified mortgage issuance was down 18% in the third quarter versus the prior period, BTIG said.
Hiring slows down significantly in September
The economy added just 29,000 jobs in September, far below economists expectations, though the unemployment rate remained steady, indicating softening in the labor market.
