Bayview sells unrated RPL after scuppered deal

S&P
By Matthew Scully
30 Jul 2014

Bayview Financial is foregoing the ratings process on a securitization of once-defaulted mortgages after a ratings disagreement in May scuppered an attempted transaction.

Bayview, which has sold this year two non-performing securitizations of US residential mortgages, will issue as early as Wednesday a $192m securitization of re-performing collateral. The pool is different to the one Bayview pulled from the market in May, according to a person familiar with the transaction.

“This ...

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