MetLife becomes latest US insurer to tap RMBS
US insurance company MetLife is stepping into the RMBS market for the first time with a reperforming loan deal, the latest insurer to eye attractive spreads in the securitization market to finance mortgage portfolios.
The $343.51m deal was announced on Thursday. The transaction is being arranged by Citi and is backed by 1,378 seasoned performing and re-performing loan (RPL) mortgages that the firm bought in the secondary market.
According to Fitch, which is rating the deal, the re-performing collateral is high
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