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COLUMBIA, MD -- Fieldstone Investment Corp. affiliate Fieldstone Mortgage Investment Corp. has securitized two groups of first- and second-lien residential loans through Fieldstone Mortgage Investment Trust series 2006-2.
Lead manager for the $779.2 million offering was Lehman Brothers Inc. Co-managers were Bear Stearns & Co. Inc., Credit Suisse Securities (USA) LLC and Merrill Lynch, Pierce, Fenner & Smith Inc.
The two groups of loans backing the deal are conventional adjustable-rate and fixed-rate mortgages originated by national conforming and nonconforming residential mortgage banker Fieldstone Mortgage Co.
The securitization involved the issuance of four classes of senior notes and 11 classes of subordinated notes. Fieldstone Mortgage Ownership Corp., an affiliate of Fieldstone, retained the M10 and M11 notes, ...