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NCUA Resecuritized Nearly Two-Thirds Of RMBS
The National Credit Union Administration has resecuritized nearly two-thirds of the distressed assets from 27 failed credit unions, reports Housing Wire.
The National Credit Union Administration has resecuritized nearly two-thirds of the distressed assets from 27 failed credit unions. The NCUA, which aims to resecuritize $50 billion in unpaid principal, in its latest deal sold $1.5 billion of resecuritized RMBS, which Moody’s Investors Service and Standard & Poor’s rated AAA.