The closing of a securitization of seasoned residential loans has turned out to be one of the biggest ever of its kind.
Completion of the transaction, which involved $2 billion (the amount was originally misreported at $2 million) in government-sponsored enterprise mortgages, was announced Tuesday in a news statement.
The GSE-backed home loans that are included in the securitization are seasoned residential loans, according to the news release.
Mortgage Industry Advisory Corp., which announced the deal on Tuesday, said the securitization was “one of the largest securitizations of seasoned residential mortgage loans with a GSE since the GSEs entered conservatorship.”
New York-based MIAC noted that the transaction was executed through its Mortgage Delivery Specialists, or MDS, division.
MIAC acted as the delivery agent in the securitization.
