Second Mortgage Securitization Off to Solid Start in 2003, But Bank Portfolios Swell
July 11, 2003
Second mortgages – and revolving home-equity lines of credit in particular – may be the last frontier of consumer credit that has been slow to evolve into a major component of the asset-backed securities market. And though securities issuance in 2003 is on track for a new annual record, traditional home-equity loans remain by and large a portfolio product for banks and