C-BASS Completes REMIC

Published March 07, 2003, 3:00 p.m. EST

1 Min Read

C-BASS, New York, has completed a real estate mortgage investment conduit deal backed by approximately $276 million of residential mortgages.The company said the REMIC -- Salomon Mortgage Loan Trust, Series 2003-CB1 C-BASS Mortgage Loan Asset-Backed Certificates -- consists of about $261.2 million of publicly offered certificates underwritten by Salomon Smith Barney, J.P. Morgan, and Blaylock Partners. The servicer on the deal is Litton Loan Servicing LP, a C-BASS subsidiary. C-BASS specializes in acquiring, servicing, and securitizing "credit-sensitive" residential mortgages. The company can be found online at http://www.c-bass.com.

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