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MBS Transactions Nearly 80% Down.

Mortgage Servicing News

| September 01, 2008 | COPYRIGHT 2008 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

New York-The volume of mortgage-backed security transactions totaled $70.77 billion in the second quarter, down nearly 80% from $348.17 billion in the second quarter of 2007, according to Thomson Reuters.

The figures are preliminary because the numbers are revised upward - often significantly - as additional deals are reported after the end of each quarter.

Banc of America Securities LLC topped the rankings of MBS underwriters in the second quarter with a 17.5% market share, compared with 8% in the second quarter of 2007.

Deals managed by BoA Securities totaled $12.42 billion, down from the $27.99 billion recorded a year earlier, according to the data.

Credit Suisse finished second in the Thomson Reuters rankings with a 13.7% market share, up from 7.2% a year earlier, while its volume totaled $9.67 billion, down from $25.15 billion.

Barclays Capital ranked third, with a market share of 12.9%, up from 3.5% in the second quarter of 2007, and its volume totaled $9.14 billion, down from $12.15 billion a year earlier.

Rounding out the top 10 for the quarter were Lehman Brothers, with a 10.8% market share; Merrill ...

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Source: HighBeam Research, MBS Transactions Nearly 80% Down.

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