Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01 -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (2911)	12/16/1998 8:00:00 AM
From: flickerful	Read Replies (1) \| Respond to of 13094

FACO...revisited. it closed yesterday @ 3 5/8. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ First Alliance Prices $120 Million Securitization IRVINE, Calif., Dec. 16 /PRNewswire/ -- First Alliance Corporation (Nasdaq: FACO) today announced that its wholly owned subsidiary, First Alliance Mortgage Company, has completed its fourth quarter securitization, amounting to $120 million. Prudential Securities Inc. is the sole underwriter. This transaction, completed on Dec. 15, 1998, was structured to qualify as a real estate mortgage investment conduit and has a two trust pass-through structure. The notes are anticipated to be rated triple-A by Moody's Investors Service Inc. and Standard & Poor's Rating Service, based on insurance agreements provided by MBIA Insurance Corporation. The $96 million Class A-1 notes are backed by fixed rate loans. The notes are priced at 1.74 percent over the three-year Treasury note due in December 2001. The $24 million Class A-2 notes are backed by adjustable rate loans and are priced at 0.575 percent over one month LIBOR. First Alliance is the seller and servicer, and Norwest Bank Minnesota N.A. is the Master Servicer and Trustee for this transaction. First Alliance is a consumer finance company with headquarters in Irvine, California. The Company originates, purchases, sells and services non-conventional mortgages through 36 retail branch offices, 33 of which are in the United States and three of which are in the United Kingdom. SOURCE First Alliance Corporation CO: First Alliance Corporation; First Alliance Mortgage Company; Prudential Securities Inc. ST: California IN: FIN SU: 12/16/98 06:00 EST prnewswire.com