SPML brings near-prime ABS, shrugs off non-conforming jitters

  • 01 Jul 2005

Last Friday Lehman Brothers priced Southern Pacific Mortgage Ltd's securitisation of near-prime mortgages, on the same day that rival lender Kensington Mortgage Co announced it would be drawing on reserve funds in two of its securitisations.

"Southern Pacific has two key methods of financing, through ...

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