Cerberus issues $174 million of debt secured by home equity lines of credit

Cerberus issues 4 million of debt secured by home equity lines of credit
A unit of Cerberus Capital Management last week issued $174 million of debt secured entirely by home equity lines of credit, or HELOCs, according to The Wall Street Journal. It’s a type of mortgage bond that went extinct in the wake of the financial crisis after a reversal in home prices made older versions worth pennies on the dollar.
Source: https://www.housingwire.com/rss