ContiFinancial Announces Agreement With Greenwich Capital to Provide Up to $125 Million of Servicers Advances.NEW YORK--(BUSINESS WIRE)--Nov. 11, 1999-- ContiFinancial Corporation (NYSE NYSE See: New York Stock Exchange :CFN CFN Center for Functional Nanomaterials CFN Companhia Ferroviaria do Nordeste (Brazil) CFN Commercial Fueling Network CFN Conselho Federal de Nutricionistas (Brazil) ) today announced that Greenwich Capital Financial Products, Inc., an affiliate of Greenwich Capital Markets, Inc., entered into a supplement servicing agreement on November 10 to provide up to $125 million of delinquent servicing advances to certain REMICs for which ContiMortgage is servicer. This agreement replaces the agreement that was previously in place with ContiGroup, Inc. (formerly Continental Grain Company). The ContiGroup agreement expired on October 15, 1999. ContiFinancial Corporation is a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company with headquarters in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and more than 2,000 employees nationwide. The Company, through ContiMortgage Corporation and other subsidiaries, is an originator, servicer and seller of home equity loans made to borrowers whose needs may not be met by traditional financial institutions. In addition, through Keystone Mortgage Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , the Company arranges financing for a wide range of commercial real estate. Certain statements contained in this news release, including, but not limited to, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's strategic objectives, raising additional equity and future performance, which are not historical fact, may be deemed to be forward-looking statements under the federal securities laws. There are many important factors that could cause the Company's actual results to differ materially from those indicated in the forward-looking statements, including the ability of the Company to successfully complete a transaction with a buyer or equity investor. Such factors also include, but are not limited to, general economic conditions; interest rate risk; prepayment speeds; delinquency and default rates; credit losses; changes (legislative and otherwise) in the asset 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. industry; demand for the Company's services; residential and commercial real estate values; the ability of the Company to negotiate agreements to sell whole loans; the impact of certain covenants in debt agreements of the Company; the degree to which the Company is leveraged; its needs for financing; the continued availability of the Company's credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities ; the risk of margin calls on the Company's credit facilities and hedge positions; capital markets conditions, including the markets for asset-backed securities and commercial mortgage loans; the performance of the Company's subsidiaries and affiliates; the Company's Year 2000 issues; and other risks identified in the Company's Securities and Exchange Commission filings. In addition, it should be noted that past financial and operational performance of the Company is not necessarily indicative of future financial and operational performance. |
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