LOS ANGELES -- Aames Financial Corp. of Los Angeles said it had received a letter from Financial Guaranty Insurance Co., an affiliate of General Electric Co., indicating preliminary interest in insuring a pool of Aames mortgage loans.
The extension of such insurance is subject to various conditions, including due diligence by Financial Guaranty, approval by its commitment committee.
Aames Financial is the parent of Aames Home Loan, which has arranged equity-backed first and junior trust deed financing since 1954. It has 19 offices in California and services a $200 million loan portfolio.
