Wilshire Closes 2 MBS Deals

Wilshire Financial Services Group, Portland, Ore., has announced the closing of two securitizations totaling $330 million.The first transaction, Series 1998-WFC1, was a $169 million deal backed by $24.2 million of fixed-rate and $144.7 million of adjustable-rate residential mortgage loans. Issued by Wilshire's wholly owned subsidiary WMFC 1997-4 Inc., the deal was underwritten by Salomon Smith Barney. The second transaction, Series 1998-WFC2, was a $161 million deal backed mainly by fixed- and adjustable-rate closed-end loans secured by mortgages on residential one- to four-family, multifamily, and commercial properties and unimproved land, Wilshire said. Issued by another wholly owned subsidiary, Wilshire Mortgage Funding Co. VI Inc., the deal was underwritten by Credit Suisse First Boston Corp. Both deals consisted of seven publicly offered investment-grade classes and a private placement of non-investment-grade securities.