General World News

Bond investor PIMCO bets on home-equity market

Rising home prices continue to fuel the growth of the nation’s multi-trillion dollar home-equity market, a fact not lost on behemoth investment-management firm PIMCO.

The Newport Beach, California company has so far this year issued three-private-label transactions backed by home equity lines of credit and home-equity loans tied to a mix of performing and reperforming loans

“The loans were originated or acquired by affiliates of Capital One, National Association (which exited the mortgage originations business in 2018) and subsequently purchased by an affiliate of a PIMCO-managed private fund in a bulk sale,” states bond-rating firm Fitch Ratings in details ⇒

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