Greenwich Capital entered the ABS primary market last month with a $300 million security backed by originations from Centex Corp. - the first time the Dallas-based home builder has made up the entirety of a principal finance shelf - and it hardly went unnoticed.

Executive Vice President and Chief Financial Officer Jay Bray said that since its inception in 1997, the company has always sold about 10% to 15% of its production in the whole-loan market. The $296.9 million series 2004-1 deal signaled Centex's first large whole-loan sale, and the lender now targets 25% to 30% of its production in whole-loan sales

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