CSFB Mortgage Securities $261M Mtg P-Ts Ser 1999-1 Rated.NEW YORK--(BUSINESS WIRE)--Oct. 29, 1999-- Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. Mortgage Securities Corp.'s (CSFB CSFB Credit Suisse First Boston CSFB Cyclically Shifted Filter Bank ) $260.8 million mortgage pass-through certificates, series 1999-1, classes A-1 through A-6 and R (senior certificates), are rated 'AAA' by Fitch IBCA IBCA International Braille Chess Association IBCA Institute of Burial and Cremation Administration IBCA Integrated Business Communications Alliance IBCA International Barbeque Cookers Association IBCA Department of Interior Board of Contract Appeals . The trust assets will consist of a portion of Headlands Mortgage Securities Inc., mortgage pass-through certificates, series 1998-2, class A-1. The assets of the underlying trust consist primarily of a pool of conventional fixed-rate mortgage loans secured by first liens on one- to four-family residential properties. The ratings reflect the quality of the underlying collateral, the capabilities of First Nationwide Mortgage Corp. as master servicer and Fitch IBCA's confidence in the integrity of the legal and financial structure. The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. will act as trustee. CSFB deposited the loans in the trust, which issued the certificates, representing undivided beneficial ownership in the trust. For federal income tax purposes, an election will be made to treat the trust as a real estate mortgage investment conduit Real Estate Mortgage Investment Conduit (REMIC) A pass-through tax entity that can hold mortgages secured by any type of real property and can issue multiple classes of ownership interests to investors in the form of pass-through certificates, bonds, or other legal forms. . |
|
|||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion