Fieldstone Reports $178M Securitization

December 22, 2006, 3:00 p.m. EST 1 Min Read

Fieldstone Investment Corp., Columbia, Md., has announced the securitization by an affiliate, Fieldstone Mortgage Investment Corp., of approximately $178 million of notes.The assets of the trust -- Fieldstone Mortgage Investment Trust, series 2006-S1 -- consist of fixed-rate mortgage loans secured by second liens on residential properties that were originated by Fieldstone Mortgage Co., the origination subsidiary of Fieldstone Investment. The transaction, structured as an on-balance-sheet financing, involved the issuance of one class of senior notes and nine classes of subordinated notes, the company said. Fieldstone can be found online at http://www.fieldstoneinvestment.com.

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