Cityscape completes $252 million securitization.ELMSFORD, N.Y.--(BUSINESS WIRE)--June 19, 1996--Cityscape Financial Corp. (Nasdaq:CTYS CTYS Chat to You Soon ) today announced that through its subsidiary, Cityscape Corp., it has completed the securitization of $251.95 million in mortgage-backed pass-through certificates. This transaction, CHE Trust 1996-2, consisted of five classes of securities and was arranged by a syndicate of underwriters led by Greenwich Capital Markets, Inc. The certificates were rated triple-A by Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. Inc. and Standard & Poors Rating Services based on a 100% insurance guarantee by Financial Security Assurance. Cityscape Corp.will continue to service the underlying loans. Rob Grosser, Cityscape's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "This is our largest securitization to-date and reflects the rapid growth of our business and the expanding financial market for our mortgage-backed securities." Cityscape Financial Corp. is a consumer finance company which, through its wholly-owned subsidiaries, Cityscape Corp. and City Mortgage Corporation Limited, is engaged in the business of originating, purchasing, selling and servicing home equity mortgage loans, secured primarily by one-to-four family residences, in the United States and the United Kingdom. Cityscape was founded in 1985 and is headquartered in Elmsford, New York Elmsford is a village in Westchester County, New York, United States. The population was 4,676 at the 2000 census. As a village, it is located in the Town of Greenburgh. The village is named after a large elm tree that once grew in the community. , with regional processing offices in California, Georgia, Illinois and Virginia. CONTACT: Robert C. Patent, EVP EVP Executive Vice President EVP EGR (Exhaust Gas Recirculation) Valve Position Sensor EVP Electronic Voice Phenomenon EVP Europäische Volkspartei (Germany) EVP Employee Value Proposition Tim S. Ledwick, CFO See Chief Financial Officer. Cityscape Financial Corp. (914) 592-6677 or Michele Katz/Jeffrey Luth/Jason Langer Press: Elisabeth Philippe Morgen-Walke Associates (212) 850-5600 |
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