NU Online News Service, July 15, 2:02 p.m. EDT

American International Group's mortgage subsidiary, American General Finance Corp., reported it will get close to $1 billion for the sale of its mortgage-backed certificates to Credit Suisse (USA) Inc.

In a Securities and Exchange Commission filing yesterday, American General said it sold off the securities with an approximate certificate principal balance worth $1.6 billion to Credit Suisse in a private transaction.

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