Advanta Corp. said Friday that its wholly owned Advanta Mortgage Conduit Services Inc. has priced a $100 million revolving home equity loan trust.

"Advanta's home equity line of credit product, a direct-to-the consumer program, is completing its second full year of nationwide operation. The growth in this business is demonstrated by the size of this transaction which is double last year's deal," said Milt Riseman, president of Advanta Mortgage Corp. USA.

J.P. Morgan & Co. acted as lead and sole underwriter of the transaction. The notes are expected to be rated AAA by Standard & Poor's and Aaa by Moody's, and are expected to be insured by AMBAC. Advanta Mortgage will retain the servicing and customer relationships of the loan accounts.

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