BlackRock preps $4.4bn auction after mega subprime sale

By Matthew Scully
16 Jul 2014

BlackRock will next Tuesday manage 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, will include securities backed by pre-crisis legacy mortgages made to borrowers with slightly higher than subprime credit, according to an announcement shared with GlobalCapital.

This auction will draw from the same $22bn pool ...

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