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Article: American Business Financial Services, Inc. Prices $200.0 Million Securitization of Mortgage-Backed Securities
- Article from:
- PR Newswire
- Article date:
- September 15, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. 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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BALA CYNWYD, Pa., Sept. 15 /PRNewswire/ -- American Business Financial Services, Inc. ("ABFS")(Nasdaq: ABFI) announces today that through its three main subsidiaries, American Business Credit, Inc., Upland Mortgage, and New Jersey Mortgage and Investment Corp., it has priced a $200 million securitization backed by business purpose and consumer home equity loans. The transaction was underwritten by Prudential Securities, Inc. consisting of four Class A securities. All tranches were fully placed with investors within 48 hours, in a very difficult asset-backed market. ABFS is pleased to see that investors continue to reward them for the high quality of their mortgage- backed ...
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