So what happened to those tier 2 Public Secondary Marketers..

Well, i haven't done a loan in over a year, but i remember using Impac and Novastar to fund a few deals. The former is a mid to hi fico and the latter is a mid fico... I was shocked to see the YIELDS and the prices. These are going xdiv in the fall.....And they say there aren't high yielding instruments....

3 year Novastar Chart

3 year Impac Holdings Chart

3 year Countrywide Credit Chart