Apr
02
Banks Push Nonprime Mortgage-Bond Revival With Canadian Deal
By-
National Bank marketing deal to securitize MCAP mortgages
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‘Alt-A’ deal would be first nonprime RMBS since 2008 crisis
Banks are marketing what could be one of Canada’s first nonprime residential mortgage-backed securities deals since the global financial crisis.
National Bank of Canada has held discussions with investors about a bond backed by a pool of residential mortgages just below prime-credit quality, Derek Norton, MCAP Corp.’s chief executive officer, said. The so-called alt-A mortgages are originated by MCAP, one of Canada’s largest alternative mortgage-financing companies…
Banks Push Nonprime Mortgage-Bond Revival With Canadian Deal
