Verus Finalizes $489.6 Million Non-QM MBS Transaction

Sep 06, 2018

Verus Mortgage Capital (VMC) has announced the completion of its sixth rated RMBS (Residential Mortgage-Backed Securities) transaction for $489.6 million. The transaction is the largest in VMC history, and also the largest non-QM MBS transaction in a decade.

The transaction was rated by S&P Global Ratings and includes 853 loans from 59 lenders. More than 80 percent of the loans are non-QM mortgages, with the balance of the loan pool consisting of property-focused investor loans. Nearly 45 percent were bank statement loans.

“This transaction is a milestone for our organization and the non-QM market,” said Dane Smith, President of VMC. “We are proud of the VMC team and all they have done to get us to this point. It’s a great way to underscore the fact that there is demand for quality non-QM and investor loans. We’re committed to building quality partnerships and a vibrant secondary market. We will continue to demonstrate that commitment by purchasing responsible non-QM and investor loans in a timely and consistent manner.”

About the author

NationalMortgageProfessional.com

Link copied

Published

Sep 06, 2018

Analysis and Data

Homebuying Pessimism Grows, Affordability Woes Persist

On the bright side, household incomes have achieved some stability

With broader consumer confidence declining in January, the latest update to the Fannie Mae Home Purchase Sentiment Index (HPSI) shows an increase of 0.3 points in January to 73.4, marking a slight recovery after homebuying sentiment fell last month for the first time since J...

Analysis and Data

Purchase Mortgage Lock Volumes Down In January

Industry ‘awaits potential shifts in interest rates’ for increase in activity, MCT says

Mortgage lock volume fell slightly in January (-0.12%) from the month before, according to Mortgage Capital Trading, Inc.’s (MCT) latest data, which covers the period from Jan. 2 to Jan. 31, 2025. Locks for purchase loans rose 2.6% from the month prior, but were mostly fl...