Palm Harbor Homes Inc., Dallas, has announced that its 80%-owned subsidiary, CountryPlace Mortgage Ltd., has closed a $141 million securitization that represents the first time in this decade that a new issuer has issued manufactured housing asset-backed securities.The deal consists of ABS secured by a portfolio of chattel mortgage and land-and-home mortgage loans originated and serviced by CountryPlace. The securities were offered and sold only to "qualified institutional buyers" under Rule 144A of the Securities Act of 1933.
CountryPlace Issues Notable MH Deal
July 13, 2005, 2:00 p.m. EDT 1 Min Read
