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Centex, Delta Complete Home Equity Mortgage-Backed Security Deals.(Brief Article)

National Mortgage News

| April 10, 2000 | COPYRIGHT 2009 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--Two major subprime lenders have completed mortgage securitization deals backed by nearly $600 million in home equity loans, as the market continues to recover from the liquidity crisis of late 1998.

Centex Home Equity, Dallas, securitized $310 million of subprime home equity loans through Centex Home Equity Loan Trust 2000-A.

Centex Home Equity will service the loans. Salomon Smith Barney, Lehman Brothers and Prudential Securities were the underwriters. Bond-insurer Financial Security Assurance provided a wrap to enhance the credit of the securities, which are rated triple-A by Standard & Poor's and Moody's.

Centex said the deal represents…

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Source: HighBeam Research, Centex, Delta Complete Home Equity Mortgage-Backed Security...

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