If you missed last Monday’s West Indian Carnival parade in Brooklyn, NY, then you missed out on Delta Funding Corp.’s banner float, which featured an oddly appealing, triangular-shaped mascot named “Ms. Mortgage.”
Delta commonly taps the ABS market through its Renaissance Funding shelf. After shrugging off a rough bout with regulators in the late 1990s for alleged abusive lending, the company has emerged a strong champion of financial literacy, honored several times for its – and Ms. Mortgage’s – community initiatives.
Other floats with loose links to securitization included a Chase Manhattan mobile and its retail-banking rival Citibank. A Greenpoint Mortgage vessel also drifted down Eastern Parkway, though from an ABS perspective, Greenpoint is no longer an issuer, having exited the manufactured housing market.
http://www.asreport.com
