Countrywide to offer 2-part $2 bln home-equity ABS

Newswire

NEW YORK, Aug 15 (Reuters) - Countrywide Mortgage plans to sell a two-part $2 billion home equity-backed deal, a source close to the deal said on Monday. Class No.1A for $880 million carries a 2.22 year average life and is rated triple-A. It is not publicly offered. Class No 2A. for $1.12 billion also has a 2.22 year average life and is rated triple-A. Price talk is in the area of 19 basis points over one month Libor. Bond insurer Financial Security Assurance will guarantee the notes' ...

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