In the wake of a pricey lawsuit with the state of New York, Delta Funding Corp. has decided not to launch its scheduled third-quarter securitization, and instead is gearing up to issue bonds in the fourth quarter, officials at the company said.

That decision comes as Delta last week settled with Attorney General Eliot Spitzer over allegations of questionable lending practices. With that matter settled, Delta plans to issue heavily at the start of the fourth quarter, combining what was to price in the third quarter with the company's $400 million to $450 million expected fourth-quarter volume.

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