Non-bank lender RESIMAC has issued its first prime RMBS deal for 2008.
Though on the small side, the $100 million deal shows there are signs of life in the capital markets and bodes well for the non-bank sector.
Standard & Poor’s yesterday rated the $82.7 million Class A notes AAA. The AB tranche of $13m received a AAA rating and the $4.3m B tranche received a AA- rating.
Pricing on the deal was not available.