Verus Mortgage Capital (VMC)
, a correspondent investor offering residential non-QM, investor rental and fix and flip loan programs, has finalized its 11th rated RMBS (residential mortgage-backed securities) transaction for $609.2 million.
The transaction was comprised of 1,204 loans with an average LTV of 70 percent and 710 credit score.
This transaction was the investor’s second largest in its history, and raises the company’s overall securitization volume to approximately $4 billion.
“We are excited with the level of activity we’re seeing this year, and we expect strong interest in and demand for non-QM activity to continue throughout the remainder of the year,” said Dane Smith, president of VMC. “We remain dedicated to assisting correspondent originators with growing their businesses with responsible non-QM solutions and are committed to efficiently purchasing quality loans.”