Lone Star Plans $239M Securities Sale

Dallas-based investment firm Lone Star Funds is ready to sell $239 million of subprime mortgage-backed securities, Bloomberg reports, citing people familiar with the transaction.

The mortgages, which were bought from CIT Group Inc., have an average age of 33 months and an average credit score of 571, according to documents obtained by Bloomberg.

A Lone Star spokesperson declined to comment for Bloomberg on the matter.

SOURCE: Bloomberg

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