Verus Mortgage Capital (VMC) has finalized its eighth rated RMBS (residential mortgage-backed securities) transaction for $254 million. The transaction was VMC’s fifth securitization in 2018.
The transaction was comprised of non-owner-occupied mortgages on one- to four-family properties. The securitization was rated by S&P Global Ratings and Morningstar, and is the second investor-only transaction by Invictus, an investment firm that backs VMC.
“We are quite pleased with how we closed out 2018 and anticipate this year being even stronger in terms of the increasing interest in and demand for non-QM and investor loans,” said Dane Smith, President of VMC. “Our focus remains on helping lenders grow their businesses with responsible non-QM lending and we are dedicated to purchasing quality loans as efficiently as possible.”