Reverse Mortgage

Cerberus resurrects reverse mortgage securitization market

cerberus-resurrects-reverse-mortgage-securitization-market

Cerberus Capital Management hired Citibank to carry out the first public equity-released mortgage securitization since the global financial crisis. The deal, which was valued Thursday, consisted of a portfolio of loans acquired by distressed Northern Rock and Legal & General Group. Most of the interest paid in the coupon comes from underlying mortgage borrowers who die or enter nursing homes.

Already a subscriber? Registration

Keep reading this article

Try full access to GlobalCapital

Free trial

0 Comments