Subprime RMBS with AAA rating goes to market

08/31/2011 | Wall Street Journal, The

Springleaf Financial is selling $242 million in residential mortgage-backed securities. The bond has an AAA rating from Standard & Poor's even though the mortgages are subprime loans. Springleaf got the investment-grade rating because it structured the deal with a 51.15% credit enhancement.

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Wall Street Journal, The

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