Luminent Mortgage Capital Inc., San Francisco, has announced the securitization of $799.6 million of prime mortgage loans. "LUM 2006-7 has credit enhancement from multiple sources, including subordination, excess interest, overcollateralization, allocation of losses and, as a first for Luminent, lender-paid primary mortgage insurance," said Megan Mahoney, senior vice president of client relations at Luminent. "In addition, the class I certificates will also have the benefit of a swap and a cap agreement." The lender-paid MI was provided by Triad Guaranty Insurance Corp., and the derivatives were provided by Bear Stearns Financial Products Inc., Luminent said. Luminent can be found on the Web at http://www.luminentcapital.com.

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