SANTA ROSA, Calif. - Redwood Empire Bancorp's Allied Bank subsidiary has sold $76.5 million of mortgage loans tied to the Federal Home Loan Bank's 11th District cost-of-funds index.
A subsidiary of Lehman Brothers was the buyer, and Lehman securitized
The senior certificates are rated AAA by Standard & Poor's Corp. and Aaa
Allied Bank will be master servicer of the loans.
Lehman also securitized an additional $3.25 million of Cofi-based loans
The transaction enabled Allied Bank to liquidate its entire position in