Former Head Of Morgan Stanley Residential Business During Financial Crisis Eyes Canadian Alt-A Mortgages

Former Morgan Stanley veteran Frank Pallotta is targeting a mortgage-backed securitization program of up to C$1.2 billion ($860 million) as Canada opens up its mortgage market to private players, seemingly unconcerned with the recent collapse of Home Capital Group .

Pallotta’s Steel Curtain Capital Group LLC, based in Ramsay, N.J., is among the first overseas players to enter Canada since last year’s privatization move. The firm’s Canadian subsidiary, SC Canadian Mortgage, has “begun work on a debut transaction through whichexclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here

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