A nonbank home lender has found an answer to the funding problems that have plagued such firms, one that should get it through most of the year.

Late last month Provident Funding Associates of Burlingame, Calif., quietly closed on what, on the surface, looked like a routine $300 million securitization of home loans. A close inspection of rating agency documents shows the deal will effectively function as a warehouse line for Provident.

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