On the prowl for liquidity, Conseco Finance introduced last week a $60 million liquidation expense securitization, which allows the company to finance the reimbursements owed Conseco for the costs associated with liquidating repossessed collateral. The deal is called CLEAR 2002-B, standing for Conseco Liquidation Expense Advance Receivables backed notes or CLEAR 2002-B

Conseco brought a similar securitization via Credit Suisse First Boston in March, where the company monetized servicer principal and interest (P&I) advances associated with home-equity and recreational vehicle deals.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.