Delta Financial Corp., Woodbury, N.Y., has priced a $434 million securitization of closed-end home equity loans through its subsidiary Renaissance Mortgage Acceptance Corp.The Renaissance Home Equity Loan Trust 2003-3 uses a senior/subordinate structure and has fully funded overcollateralization at closing, Delta said. The company said it expects to use a pre-funding feature and deliver approximately $350 million of mortgage loans to the trust by Sept. 30, with the remainder to be delivered in October. Delta can be found on the Web at http://www.deltafinancial.com.
Processing Content
