Delta Funding Corp., Woodbury, N.Y., has announced the sale of a $445 million securitization of closed-end home equity loans.The deal, Delta Funding Home Equity Loan Trust 1998-2, was priced in 14 parts, with coupons ranging from 6.13% to 6.75% for the fixed-rate classes and from 16 to 125 basis points above the one-month London Interbank Offered Rate for the adjustable-rate classes. Donaldson, Lufkin & Jenrette Securities Corp. was the lead underwriter for the deal, which was co-managed by Lehman Brothers Inc. and NationsBank. Delta Funding is a wholly owned subsidiary of Delta Financial Corp., whose website address is http://www.deltafinancial.com.
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