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Article: Delta Financial Announces Securitization Backed by $950 Million in Mortgage Loans.
- Article from:
- Business Wire
- Article date:
- March 15, 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 (Amex: DFC) today announced it has securitized $950 million of mortgage loans through its subsidiary, Renaissance Mortgage Acceptance Corp. - the Renaissance Home Equity Loan Trust 2007-1.
Hugh Miller, president and chief executive officer stated, "Our ability to issue asset-backed securities in this tumultuous environment demonstrates the market's confidence in our Company and in our mortgage loans, and simultaneously acts as a reminder that Delta is a distinct player in the subprime sector. Our quarter-of-a-century strategy of originating predominantly fixed-rate mortgage loans, our proven underwriting capability ...