Verus Finalizes $442 Million Non-QM MBS Transaction

Dec 26, 2018

Verus Mortgage Capital (VMC) has completed its seventh rated RMBS (residential mortgage-backed securities) transaction for $442 million. The transaction is the second largest in VMC history, and its fourth securitization this year.

Rated by S&P Global Ratings and Morningstar, the transaction included 809 loans from 61 lenders. The transaction included owner occupied non-QM loans as well as non-owner occupied loans.

“We continue to see great demand for non-QM and investor loans and expect that to continue in 2019,” said Dane Smith, President of VMC. “We remain focused on the dynamic secondary market where we are engaged with quality partners. Purchasing responsible non-QM and investor loans consistently and efficiently illustrates our commitment to this sector.”

About the author

NationalMortgageProfessional.com

Link copied

Published

Dec 26, 2018

Tech

ServiceLink Enhances Its Digital Closing Solution

EXOS Close allows lenders and borrowers to choose ‘when, where, and how’ they close

Digital mortgage services provider, ServiceLink, announced enhancements to its EXOS Close technology designed to provide more flexibility for lenders and borrowers using the technology to schedule their closings. Enhancements include new options for online and in-branch c...

Analysis and Data

Moody’s Downgrades Fannie And Freddie Following U.S. Sovereign Credit Cut

Outlooks for both GSEs revised from negative to stable

Moody’s has downgraded the long-term senior unsecured debt ratings of Fannie Mae and Freddie Mac to Aa1 from Aaa, following its May 16 downgrade of the U.S. government. The outlooks for both agencies were revised from negative to stable, signaling no immediate expectation of...