BofA Preps Second Residential Mortgage Deal

  • 03 Mar 2003
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Banc of America Securities is readying a second synthetic securitization of residential mortgages after debuting its first such product last December, said BofA officials. The firm's first deal, dubbed RESI (Real Estate Synthetic Investments), is thought to be the first of its kind in the U.S. Jennifer DiClerico, spokeswoman in New York, did not return calls.

The new transaction is expected to replicate the original deal in terms of its reference pool and size, said officials. RESI was referenced to a USD12 billion portfolio of Bank of America residential mortgages (DW, 12/16). In the deal the firm issued nine tranches ranging from B minus to single A, totaling USD138 million, and kept the super-senior tranches.

  • 03 Mar 2003

All International Bonds

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3 Barclays 48,804.69 156 7.01%
4 Bank of America Merrill Lynch 42,042.80 146 6.04%
5 Deutsche Bank 37,689.95 134 5.42%

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3 Credit Agricole CIB 1,539.94 8 4.78%
4 MUFG 1,257.24 4 3.90%
5 SG Corporate & Investment Banking 1,165.08 6 3.62%

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4 BNP Paribas 341.77 2 5.40%
5 Investec Ltd 340.28 3 5.37%