A mortgage bond that fell out of favor after the financial crisis has been issued by a New York private equity firm; one of a series of unconventional structures to emerge in the past year. A unit of Cerberus Capital Management LP issued bonds last week that were backed completely by home-equity lines of credit, The Wall Street Journal reported. Financial products that culled together arcane pieces of the mortgage market have become less common […]
source https://therealdeal.com/national/2019/06/24/mortgage-bond-abandoned-after-the-financial-crisis-reemerges/#new_tab
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