Imperial Strikes Loan Deal: Imperial Credit Industries...
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Imperial Strikes Loan Deal: Imperial Credit Industries Inc., a Newport Beach-based mortgage banking firm, said Tuesday that it has executed a $2-billion loan commitment with DLJ Mortgage Capital Inc.
The deal with DLJ Mortgage Capital, a subsidiary of Donaldson Lufkin & Jenrette Securities Corp., will allow Imperial Credit to sell all of the residential mortgage loans originated through its ICI Funding Corp. division and the company’s new National Secondary Market Conduit program.
The conduit program will offer both fixed-rate and adjustable loan programs designed to compete with the traditional mortgage loan.
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