Verus Mortgage Capital Finishes 2019 on a Strong Note

Jan 09, 2020

Verus Mortgage Capital (VMC) finished 2019 strong, recently finalizing its 14th and 15th rated Residential Mortgage-Backed Securities (RMBS) transactions for $533.5 million and $680.7 million respectively. The 14th transaction, Verus 2019-INV3, for $533.5 million was comprised of 1,564 investor loans. The 15th transaction, Verus 2019-4, for $680.7 million was comprised of 1,451 loans.

Verus, a non-QM issuer, had nearly $3.8 billion of collateral across seven transactions in 2019 and 15 transactions overall, and nearly $6 billion overall securitization volume. Compared to 2018, Verus more than doubled its shelf issuance and increased participation from unique bond investors by more than 60 percent.

“Our commitment to leading the non-QM space and establishing it as a viable, mainstream lending alternative is evident in the success we’ve experienced over the last four years,” said Dane Smith, president of VMC. “As one of the first entrants in this sector, we’ve seen it transform into one of the most promising and exciting opportunities in the mortgage industry. We’ve made tremendous progress in a fairly short timeframe which is due, in part, to our talented team and complete dedication to helping lenders thrive in non-QM.”

About the author

NationalMortgageProfessional.com

Link copied

Published

Jan 09, 2020

Industry News

First FICO 10T-Backed MBS Issuance Achieved

Comprised of VA loans, the pool offers proof of concept for changes to be required by the FHFA by late 2025.

Fannie-Freddie seller and servicer Cardinal Financial has originated its first VA loans decisioned with the help of FICO’s 10 T credit score, following early adoption of this new credit score ahead of the transition required by the Federal Housing Finance Agency (FHFA) in la...

People On The Move

Mortgage Data Firm Appoints Chief Revenue Officer

Redefining Business Intelligence (RBI) bulks up its C-Suite

AI-driven data science firm Redefining Business Intelligence (RBI) is building out its C-suite with several recent appointments. RBI co-founder Pamela Finn has been appointed Chief Revenue Officer (CRO) effective immediately, the company announced this week. This follows...