After issuing its first securitization last month, New York-based Greenthal Realty Partners is ready to take on a relatively untapped market in the asset-backed world: nonperforming and subperforming loans.

For the past four years, the 42-employee strong Greenthal was busy acquiring subperforming, nonperforming and real-estate owned (REO) residential assets, primarily in the one-to-four family range. It issued $145 million in notes, rated single-A by all three rating agencies.

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