FirstCity Capital Corporation has postponed its planned $300 million home equity transaction due mostly to lower than expected volumes on the acquisition end, and partly because of recent softening of spreads in the ABS market.

The Valhalla, N.Y.-based firm had planned to stroll to market in April or May with a Lehman-led deal, but was forced off the path after production levels dipped a bit at the firm's correspondent lenders.

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