CFX announces lease securitization.KEENE, N.H. --(BUSINESS WIRE)-- Jan. 27, 1995 -- CFX CFX Command Field Exercise CFX Combined Field Exercise CFX Congregationum Fratrorum Xaverianorum (Latin: Congregation of Xaverian Brothers (Roman Catholic religious order) CFX China France Express CFX Compact Form Factor Corp. (AMEX AMEX See: American Stock Exchange :CFX) today announced that CFX Funding L.L.C., a majority owned subsidiary of CFX Corp., has completed a $15 million private placement securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. of small-ticked commercial lease receivables. The security attained an A+ rating from Duff & Phelps Inc. CFX Funding L.L.C. has developed a unique program for generating, warehousing, credit enhancing and securitizing small-ticket commercial leases. Mark A. Gavin, chief financial officer, said "This program is unique in the commercial leasing industry and we feel it has potential for healthy growth and profitability as lessors across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. became familiar with the variety of services we can offer." CFX Funding L.L.C. provides funding, servicing and securitization services for commercial lessors throughout the United States. CFX Corp. is a bank holding company headquartered in Keene, N.H. with total assets of $756,000,000 as of Dec. 31, 1994. The company's banking subsidiary is CFX Bank, headquartered in Keene, N.H. CFX Mortgage Inc., the bank's mortgage banking subsidiary, services approximately $645,000,000 in mortgage loans for others. The combined company operates 20 full service offices, 7 loan production offices, and 50 automated teller and remote service banking locations in New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). . CONTACT: CFX Corp. Mark A. Gavin, 603/352-2502 |
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