Verus Mortgage Capital Reports Significant Activity In Non-QM Lending For 2020

Verus Mortgage Capital, a full-service correspondent investor offering residential Non-QM and investor rental programs financed close to $2.6 billion of loans across six-rated and unrated securitization transactions, according to a press release.

As the nation’s largest issuer of securitizations backed by Non-QM loans each of the three last years, Verus’ 2020-2 issuance was the first post-COVID securitization with ratings to include both Standard & Poor’s and Fitch Ratings, according to the release.

The company completed five rated securitizations post-COVID, totaling more than $1.65 billion in collateral. Verus also issued its first unrated securitization backed primarily by non-performing loans in 2020, which included traditional mortgage loans as well as Residential Transitional Loans.

"We remain committed to growing the Non-QM industry," said Dane Smith, president of VMC. "Demand remains extremely strong for these products and providing Non-QM financing offers lenders a great opportunity to grow in a highly competitive market. We couldn’t be more excited about the future. The Non-QM business will grow considerably over the next two years and lenders who begin originating these products now will lead the industry. We will continue to grow our correspondent channel this year by partnering with lenders who are looking to provide Jumbo, Non-QM and Investment home financing options."

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