Nineteen eighty seven saw the first collateralized bond obligation happen.

Imperial Savings, having securitized agency collateral - Ginnie Mae, Fannie Mae and Freddie Mac - was looking to securitize other high-yield bonds in its portfolio. The company decided to go to Drexel Burnham Lambert to help them package the bonds.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.