ECC Capital Corp., a real estate investment trust based in Irvine, Calif., has announced the completion of a $1.06 billion securitization of subprime mortgage loans.ECC Capital said it has sold the notes from BMAT Mortgage Asset NIM Trust, series 2006-1, representing the completion of the Bravo Mortgage Asset Trust 2006-1 securitization. The Bravo deal was a private placement with an initial closing on May 2 and prefundings on June 7 and June 30. Bear, Stearns & Co. was the sole offering agent for the notes and the certificates. ECC Capital, a mortgage finance REIT, can be found online at http://www.encorecredit.com.
ECC Capital Completes $1B Subprime Deal
August 04, 2006, 2:00 p.m. EDT 1 Min Read
