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Lake Oswego, OR-In keeping with its philosophy of growth through strategic alliances, Southern Pacific Funding Corp. has announced signing with Liberty Lending Corp., a $600 million agreement that will provide non-conforming mortgage loans for future securitization over the next 36 months.
The alliance will lock in a long-term source of nonconforming loans for SPFC's quarterly securitizations and will lower the cost of securitization for both parties. It will also give Liberty Lending access to capital markets through Southern Pacific's Capital Markets Management Group.
A national specialty finance company engaged in originating, purchasing and selling nonconforming home equity loans, SPFC has used acquisitions and strategic alliances to grow itself more than three times its initial stock offering size since it went public in June 1996. Both types of...