Strats(SM) Trust For Allstate Corp Securities, Series 2006-3 06-3 ASSET BKD
GJT
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- None
- Sector
- Financial Services
- Industry
- Financial - Credit Services
- Address
- 301 South College Street Charlotte NC United States of America 28288
- IPO Date
- Aug 1, 2007
- CIK
- 0001357660
- Similar Companies
- Business
- Strats(SM) Trust For Allstate Corp Securities, Series 2006-3 06-3 ASSET BKD (Ticker: GJT) serves as a special purpose vehicle established to issue and manage asset-backed securities collateralized by a pool of fixed-rate home equity loan receivables originated or acquired by Allstate Financial Services Corporation. The trust's core offerings consist of senior and subordinate classes of notes, including Class A-1 through A-4 floating-rate notes and Class B, C, and M fixed-rate notes, secured primarily by subprime second-lien residential mortgages underwritten through Allstate's proprietary lending programs; servicing is provided by Specialized Loan Servicing LLC, with Wilshire Credit Corporation acting as backup servicer. Operations focus on the U.S. residential mortgage-backed securities market, targeting institutional investors seeking yield from structured credit products backed by consumer debt obligations. Formed in 2006 and administered from Wilmington, Delaware, the trust operates within the broader asset-backed securities segment of the structured finance industry, with underlying collateral concentrated in U.S. states such as California, Florida, and Texas where Allstate's home equity lending was prominent prior to the financial crisis. The portfolio comprises approximately 20,000 loans with an original principal balance of around $1.2 billion, featuring adjustable-rate structures tied to the London Interbank Offered Rate plus spreads ranging from 1.35% to 2.75%. No active subsidiaries or parent relationships exist beyond the sponsor (Allstate Corporation) and master servicer arrangements. In recent years, the trust has undergone significant deleveraging following the 2008-2009 credit crisis, with cumulative principal paydowns exceeding 95% as of late 2025 due to loan amortizations, prepayments, and liquidations amid elevated delinquency rates peaking at over 50% in 2010. A key operational change occurred in 2023 when the remaining Class M-9 subordinate notes were fully retired, shifting the capital structure to senior note holders only and enhancing credit stability; additionally, servicer transitions in 2024 improved collection efficiencies on the residual non-performing loans. No major acquisitions, funding rounds, or product launches have transpired, reflecting the trust's maturity as a wind-down vehicle with final distributions anticipated by 2027.