Cerberus Capital Management is planning a securitization of re-performing residential mortgages, according to Fitch Ratings.

The $395.75 million Towd Point Mortgage Trust 2015-1 is backed by primarily (83.7%) by loans that were once delinquent have been making payments for the past 24 months, which Fitch identifies as “clean current.” The remaining loasn used as collateral (16.3%) are current but have recent delinquencies, which Fitch refers to as “dirty current” (16.3%). No loans were past due 30 or more days as of the cutoff date and roughly 88% have received modifications.

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