Wentworth Sells Whole Loan Package

J.G. Wentworth, Philadelphia, has announced the sale of its fifth package of whole-loan private mortgage notes into the secondary market. Wentworth chairman Gary Veloric said the company is finding "a strong appetite among banks and other financial institutions for this product, which is gaining a ready market as a securitized asset with strong credit quality and predictable cash flows." He said the growing market segment "allows many consumers to eliminate the uncertainty of holding a private, uninsured note while getting the cash now to invest in a business, pay for an education, or meet one of life's emergencies." J. G. Wentworth is the largest buyer of structured settlements arising from personal injury litigation and the largest originator and servicer of securitized deferred obligations in the U.S., the company said. Further information is available from Michael Goodman at mgoodman@jgwfunding.com.