S&P Downgrades $23.4 Billion Of 2007 RMBS

Standard & Poor’s today downgraded $23.35 billion, or 1,713 classes, of U.S. residential mortgage-backed securities backed by first-lien subprime, Alt-A and closed-end second lien mortgages issued in the first half of 2007.

  • 17 Oct 2007

--Aaron Johnson

Standard & Poor’s today downgraded $23.35 billion, or 1,713 classes, of U.S. residential mortgage-backed securities backed by first-lien subprime, Alt-A and closed-end second lien mortgages issued in the first half of 2007. The downgraded tranches account for 4.7% of the $495 billion of all U.S. RMBS backed ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,415 22 12.84
2 Citi 5,781 17 11.57
3 BNP Paribas 3,530 14 7.06
4 Credit Suisse 2,783 8 5.57
5 Rabobank 2,633 4 5.27

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3 Wells Fargo Securities 72,661.39 222 9.63%
4 JPMorgan 52,367.24 169 6.94%
5 Credit Suisse 41,885.89 127 5.55%