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Credit Suisse (CS) becomes just the 2nd issuer (RWT is the other) of MBS backed by jumbo loans...

Credit Suisse (CS) becomes just the 2nd issuer (RWT is the other) of MBS backed by jumbo loans since the crash with a $425,7M deal.  Fitch assigned a top rating to the vast majority of the paper, which has a loss buffer of 7.05%. Reportedly a partner in the securitization is Two Harbors (TWO).
Comments (2)
  • satyamlo
    , contributor
    Comments (3) | Send Message
     
    How SBY reports after the close of trade today, and what it says during its conference call tomorrow morning may well tell a lot about the near term direction of TWO. An insider bought something like 16000+ shares of TWO at 12.60 roughly a week or so ago. Apparently TWO's ownership shares in SBY will be distributed in some manner to TWO shareholders as a special dividend after the lockup period expires in March. TWO hasn't said exactly when, for this will probably depend in part on market conditions.
    28 Feb 2013, 11:02 AM Reply Like
  • johnmather
    , contributor
    Comments (7) | Send Message
     
    They said mid-March.
    28 Feb 2013, 03:37 PM Reply Like
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