Toorak Capital Partners Wraps $350mil Residential Bridge Loan Securitization

Oct 01, 2019

Toorak Capital Partners, a correspondent real estate loan investment platform headquartered in Summit, N.J., has completed a $350 million securitization of residential bridge loans, which the company said was the largest ever issuance in the asset class.

Toorak’s securitization, Toorak Mortgage Trust 2019-2, features a two-year revolving period, during which time loan payoffs can be reinvested in new loans. The company said investor interest resulted in the offering was upsized by 40 percent during the marketing period.

“We are dedicated to institutionalizing the residential investor loan market by providing reliable, high-quality capital, with standardized credit guidelines, responsive service and timely execution,” said John Beacham, CEO of Toorak. “We are focused on helping our lending partners grow their business responsibly.”

About the author

Phil Hall

Link copied

Published

Oct 01, 2019

Analysis and Data

Late Pays Rising for Student, Auto Loans

More of those with strong credit records have gone delinquent

Delinquencies are building across two major food groups — student loans and automobile financing — the feed credit scores and are sure to impact the ability of would-be home buyers to obtain a mortgage. The Education Department hasn’t updated its official student loan rep...

Analysis and Data

Buyers Faced Bigger Down Payments in 2024

Buyers paid an average of 14.4% of the purchase price, up from 14.2% in 2023

Down payments reached record highs in 2024, both in dollar amounts and as a share of purchase price, according to a new report from Realtor.com. The typical down payment in Q4 was $30,250, slightly below Q3 but about $3,000 higher than a year earlier. "As inventory recove...