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C-BASS Completes $270mm Deal.(Brief Article)(Statistical Data Included)
C-BASS, a specialist in servicing and securitizing credit-sensitive residential mortgages, has closed a transaction backed by approximately $270 million of residential mortgage collateral.
Greenwich Capital Markets underwrote the approximately $265 million of investment grade certificates in the deal. Merrill Lynch & Co. and GMAC RFC Securities were co-managers for the publicly issued transaction, C-BASS Mortgage Loan Asset-Backed Certificates, Series 2002-CB2. It is the company's second whole loan securitization of the year.
Servicing for the loans is performed by Litton Loan Servicing, Houston, a wholly owned subsidiary of C-BASS, which is based in New York. The company combines credit risk analysis, loss mitigation expertise and proprietary ...
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