HomeBanc Completes ARM Deal

HomeBanc Corp., the Atlanta-based parent company of HomeBanc Mortgage Corp., has announced the completion of a $1.09 billion securitization of adjustable-rate mortgage loans.The sequential-pay notes were issued by HomeBanc Mortgage Trust 2005-4, which includes approximately $1.12 billion of first- and second-lien ARMs originated by HomeBanc Mortgage. The floating interest rates on the various classes of notes are based on the one-month London interbank offered rate. HomeBanc Corp. said it retained approximately $43.1 million of the notes as well as a certificate representing the right to receive any residual distributions. The underwriters of the deal are Bear, Stearns & Co.; JPMorgan Securities; and KeyBanc Capital Markets. HomeBanc, a real estate investment trust, can be found online at http://www.homebanc.com.