Citigroup offering marks revival of nongovernment RMBS market

For the first time since 2008, an offering of residential mortgage-backed securities that aren't supported by government guarantee is headed to the debt market. Citigroup is marketing a $222.4 million offering being sold by a California real estate investment trust, Redwood Trust. The bonds are secured by more than 250 hybrid mortgages on one- or two-unit homes, condos, town houses and co-ops.

View Full Article in:

Financial Times (tiered subscription model) · Wall Street Journal, The · DSNews.com

Published in Brief: