Bay View Financial Corp. recently lifted a balance sheet securitization off its sheet, selling approximately $260 million worth of securitized franchise loans into the asset-backed market, according to sources familiar with the situation.

The 144A placement is backed by loans from the Franchise Mortgage Acceptance Corp. (FMAC) portfolio. Greenwich Capital Markets is lead manager with Countrywide Securities and Salomon Smith Barney as co-managers.

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