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Non-Tech : Cityscape Financial (CTYS)
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To: Zeev Hed who wrote (1615)11/14/1997 1:24:00 PM
From: Bruce A. Thompson  Read Replies (1) of 2544
 
zeev, I'm not sure that the buyer wouldn't pay a premium. I see entire portfolios sold every day in this sector. When a company securitizes a portfolio and is flush with cash at todays interest rates, last years originations (at higher rates) are worth more $. Also from previous 10k's, they have disclosed a buy rate of 40% @ 1.04 and 50% @ 1.05 with the rest bought @ par. ???

Bruce
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