UPDATE 1-US mortgage bond issuance plunges in 2008

Wed. December 31, 2008; Posted: 11:57 AM

NEW YORK, Jan 01, 2009 (Reuters via COMTEX) -- TRIN | Quote | Chart | News | PowerRating -- U.S. mortgage-backed securities issuance plunged in 2008 as uncertainty reigned in the housing market and investors shied away from risky instruments, a survey showed on Wednesday.

Thomson Reuters said U.S. mortgage-backed securities issuance totaled $187.4 billion in 2008, down sharply from $941.1 billion a year ago.

Barclays Capital, the investment banking arm of UK lender Barclays, was the top underwriter of U.S. mortgage-backed securities in 2008. Barclays Capital underwrote 61 issues of mortgage-backed bonds, totaling $34.1 billion, a 18.2 percent market share.

Bank of America Securities LLC ranked second among U.S. MBS underwriters for 2008, with a 13.7 percent market share. The company underwrote 39 issues totaling $25.7 billion.

Credit Suisse Group was third, with a 13.1 percent share. The firm underwrote 43 issues worth $24.4 billion. Keywords: USA MORTGAGES/RANKINGS (Reporting by Julie Haviv; Editing by Chizu Nomiyama, Reuters Messaging: julie.haviv.reuters.com@reuters.net; email julie.haviv@thomsonreuters.com; Tel: 646 223 -6153)

Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

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