Countrywide Home Loans priced an $847 million securitization of home equity loans last week -- its largest to date, the company said. The securitization was for 10 classes of fixed-rate loans and four of floating-rate loans.

The deal, lead managed by Lehman Brothers, comes at a time when asset-backed issuance has been on the rise. Issuance this quarter has been bolstered by investor concerns over Y2K implications and unpleasant memories of the credit crunch last October, said Martin Harding, managing director and co-head of the asset-backed securities group at Lehman.

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