Investors were left wanting more after the pricing of the first new issue from programmatic Saxon Asset Securities, following its divestiture from Dominion Resources earlier in the month. Even after a restructuring of the offering had many of the classes increasing in size, the issue still continued to tighten throughout the marketing process.

Last Wednesday Saxon sold $650 million of series 2001-2 home equity loan-backed paper via the lead of Greenwich Capital Markets, which was oversold in all classes leading to significant tightening across the board.

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