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In the inner-city 9th District, public-interest attorney Ricardo Torres II, who is backed by the Neighborhood Cause Coalition, faces City Council aide Woody Fleming, the labor candidate.
Some asset-backed securities, such as those backed by credit card receivables, typically use a "spread account" as a credit enhancement.
The only candidates backed by Riordan with a chance to escape a runoff was former state Assemblywoman Paula Boland in the 12th District, and Marcos Castaneda, who was also backed by the unions in the 7th District.
In addition to rapid growth in residential mortgage-backed securities, recent years have witnessed an explosion in the issuance of securities backed by other assets: credit card receivables, automobile loans, boat loans, commercial real estate loans, home equity loans, student loans, nonperforming loans, and lease receivables.
The Money Store SBA Loan Backed Certificates, series 1998-1