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Volume 2015 - Number 48

December 18, 2015

The Beginning of a Nonprime MBS Revival? Private Deals Based on Angel Oak and Citadel Collateral Oversubscribed

Greenleaf Income Trust this week priced a $135 million non-agency, nonprime MBS, the largest such offering since the housing bust. It marks the second nonprime MBS sold in the past week, and the fourth deal of the year – all of them sold as private placements with no ratings. Mike Fierman, managing partner and CEO of Angel Oak Companies, which is affiliated with Greenleaf, told Inside MBS & ABS he’s pleased with the outcome of the security. “We had broad investor participation and the transaction was oversubscribed.” Fierman said...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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