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Article: Delta Financial Announces Securitization Backed by $850 Million in Mortgage Loans.
- Article from:
- Business Wire
- Article date:
- May 22, 2007
CopyrightCOPYRIGHT 2007 Business Wire. 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)
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WOODBURY, N.Y. -- Delta Financial Corporation (NASDAQ:DFC) today announced it has securitized $850 million of mortgage loans through its subsidiary, Renaissance Mortgage Acceptance Corp. -- the Renaissance Home Equity Loan Trust 2007-2.
"While we are still cautious about the securitization market on a go forward basis," stated Hugh Miller, president and chief executive officer, "we saw a marked improvement in both pricing and investor demand for this transaction, compared to the securitization we completed in the first quarter of this year. Additionally, while we have typically issued securitizations every three months, we decided to issue this transaction only ...