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Residential Credit Solutions Issues $110M Pool of Loans and Real Estate

""Residential Credit Solutions"":http://www.residentialcredit.com announced Tuesday that it has issued a newly created asset-backed securitization comprised of residential loans and real estate.

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The secondary market offering, under the name Residential Credit Solutions Trust 2011-1, carries a value of more than $110 million.

According to a statement from the company, 44 percent of the structure is collateralized with delinquent mortgages and REO properties and 46 percent is current mortgage loans.

""Bank of America Merrill Lynch"":http://www.baml.com/ is the underwriter for the nonrated senior and subordinated structure. Residential Credit Solutions will service the underlying mortgage loans.

Ft. Worth, Texas-based Residential Credit Solutions is a special servicer with a focus on resolving sub- and non-performing mortgages. The company is rated as a special servicer by both Standard & Poor's and Fitch, and approved by HUD, Fannie Mae, and Freddie Mac.

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.
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