- "In an environment with limited loan originations, this transaction gives Chimera (NYSE:CIM) access to a large amount of seasoned residential mortgage loans which may be securitized into new investments," says CEO Mohit Marria. "The deals will be callable over the next two years and will provide us a robust securitization pipeline subject to market conditions."
- Acquired are the rights to about $4.8B of seasoned mortgages thanks to the purchase of certain subordinate notes and trust certificates in Springleaf Mortgage Loan Trusts from 2011-2013.
- Source: Press Release