American Business Financial Services Inc., Bala Cynwyd, Pa., has closed a $450 million fixed-rate mortgage loan securitization via three subsidiaries.The real estate mortgage investment conduit deal, ABFS Mortgage Loan Trust 2003-1, was the largest ever by the company. It was increased from $400 million at the request of Bear Stearns & Co. Inc., the lead manager, and Credit Suisse First Boston, the co-manager, in order to accommodate demand, ABFS said. The company's three subsidiaries are American Business Credit Inc., Upland Mortgage, and American Business Mortgage Services Inc. The company's website address is http://www.abfsonline.com.
Processing Content
