Delta Boosts Warehouse Lines to $1B

Delta Funding Corp., Woodbury, N.Y., has obtained two new warehouse facilities that increased its total committed warehouse facilities from $750 million to $1 billion."These are our second and third warehouse lines that we have secured in six months, the first coming back in September 1998 at the height of the liquidity crisis," said Hugh Miller, Delta's president and chief executive officer. "...We have been successful in diversifying our short-term funding sources, as we now have five warehouse facilities from nine different lenders: two from major commercial banks; one from a bank syndicate, which consists of five top-tier commercial banks; and two from major investment banks." Delta Funding is a wholly owned subsidiary of home equity lender Delta Financial Corp. Delta's website address is http://www.deltafinancial.com.