J.G. Wentworth today announced that it has completed a $117 million securitization backed by structured settlement and annuity notes. This is the specialty finance firm's 18th securitization since 1997.
In mid-March, the specialty finance company also announced the completion of a another deal, a $111 million securitization backed by the same collateral.
J.G. Wentworth's Chief Executive Officer Michael Goodman at that time said that the turbulence in the credit markets has presented "an extremely challenging environment for asset-backed notes."
Goodman added that credit market turbulence has caused investors to look beyond ratings and to make a more careful evaluation of the composition of the exposures behind the assets.
"In markets crowded with notes linked to real estate, subprime mortgages or other troubled assets, annuities and strong underlying credits backing our notes have enabled J.G. Wentworth to offer investors important points of differentiation," Goodman said in March. "Equally important, they have enabled J.G. Wentworth to continue its securitization program."