Here is my guess subjec to change once additional information is released. Merrill Lynch did its due diligence on the deal by having the winning bid. It finances 75% and keeps 25%. My guess is that the 75% financed is secured with those same assets or maybe not. So, why does Merrill do this? Merrill gets a very secure interest stream of income since NRZ has other income to use. These are subordinate tranches so this makes the income more secure.