Specialist in Non-QM and investor rental programs emerges as dominant player.
Verus Mortgage Capital (VMC), a correspondent investor specializing in residential Non-QM and investor rental programs, emerged as the top issuer of non-agency mortgage-backed securities in 2023. The Non-QM sector, comprising approximately 40% of total issuance within the non-agency space, saw VMC's parent company, Invictus Capital Partners, clinching the top spot in a recent ranking by Inside Nonconforming Markets.
In 2023, the Non-QM sector was the largest subsector of the non-agency space representing roughly 40% of total issuance. A recent ranking by Inside Nonconforming Markets listed Invictus Capital Partners, Verus’ parent company which focuses on expanded-credit MBS, as the top issuer of non-agency mortgage-backed securities last year. It surpassed JPMorgan Chase, which focuses on jumbo MBS. Invictus issued $5.75 billion while Chase issued $3.95 billion.
“Verus remains committed to innovation and excellence in the Non-QM and non-agency space,” VMC President Dane Smith said. “Now is the ideal time for originators to consider the Non-QM sector, partnering with Verus, the recognized market leader. Non-QM continues to be a practical way for lenders to meet the ever-changing financial needs of their borrowers.”
Establishing itself as a Non-QM issuer since 2017, Verus has financed approximately $28 billion through 54 rated securitization transactions. The platform also witnessed a notable 45% increase in the number of unique investors per securitization.
Tech promises efficiency, but adoption, ROI, and borrower satisfaction tell a more complex story
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