Deerfield Capital Corp., Chicago, has announced that it will take a noncash charge of $75.5 million in the fourth quarter related to approximately $3.4 billion of residential mortgage-backed securities, and a $14.6 million charge linked to its asset-backed securities. Deerfield, a real estate investment trust, also reported sales of approximately $1.5 billion of available-for-sale RMBS in the fourth quarter to reduce leverage and maintain adequate liquidity. The company said it plans to carry its entire RMBS portfolio at fair value in 2008.
Deerfield to Take $75M RMBS-Linked Charge
January 17, 2008, 2:00 p.m. EST 1 Min Read
