BlackRock preps $4.4bn auction after mega subprime sale

By Matthew Scully
17 Jul 2014

BlackRock will manage next Tuesday a $4.38 billion sale of Alt-A residential mortgage-backed securities in a second and even bigger sale than the record $3.7bn subprime RMBS sale it managed for UBS AG this week.

The sale, which will be held on Tuesday, July 22 at 10am ET, will be split into two ‘All or None’ bids and include securities backed by pre-crisis legacy mortgages made to borrowers with slightly higher than subprime credit, according to an announcement shared with GlobalCapital. ...

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