At press time last week, AmeriQuest Mortgage was pricing its third net-interest margin (NIM) securitization of the month, this one dubbed a "Re-NIM" by lead manager Banc of America Securities.

The novel $50 million deal sources the residual interest on three seasoned subprime home-equity transactions, each roughly two years old, and each previously associated with outstanding NIM securitizations. One of the outstanding NIMs has already paid out and the other two will be paid out by the proceeds from the current transaction.

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