FMD Lowers Concentration Risk
I'm really impressed with this latest securitization, 2007-3. The huge size, Ambac insurance, auction rate structure and lower concentration all speak to strong growth and excellent management.
One confusing thing in the prospectus is that they don't list the lenders that are 10% or below. When you factor in the smaller lenders, you get the true picture of concentration which shows that BofA and JPM are at about 35%-36% of the total. For a detailed explanation, see here.
One confusing thing in the prospectus is that they don't list the lenders that are 10% or below. When you factor in the smaller lenders, you get the true picture of concentration which shows that BofA and JPM are at about 35%-36% of the total. For a detailed explanation, see here.
posted by Never-Limp at 12:05 PM
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