United Companies Financial Corp. has brought to market a $286 million pool of mortgage-backed securities.
The securitization includes $155 million of fixed-rate certificates to be sold in five classes, with yields beginning at 6.057%, and a single tranche of $131 million in adjustable-rate certificates.
The securities are backed by subprime, or B and C, loans originated by United Companies through its various subsidiaries. United Companies compiles its loans for quarterly securitizations.
With backing from Financial Guaranty Insurance Corp., United Companies expects the issue to receive top investment ratings.