Cerberus Capital Management is marketing its first securitization of re-performing mortgages of the year.

Towd Point Mortgage Trust 2016-1 is backed by a $772.75 million portfolio of 2,868 seasoned first- and second-lien residential mortgages. Just over 62% of the loans have been modified; 363 of them have non-interest-bearing deferred amounts, which equates to 1.0% of the total principal balance. The modifications happened more than two years ago for 92.9% of the modified loans.

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