LendingHome Funding Corp., a lender to real estate investors, has closed a $388 million revolving securitization of unrated residential transition loans. This is the seventh broadly syndicated securitization transaction sponsored by LendingHome since 2019.
The deal includes a two-year revolving period during which principal payoffs can be reinvested in newly originated loans. The money will provide capital to support approximately $1.2 billion in loan originations over the life of the deal.
“We’re thrilled that our latest financing deal was equal to the largest securitization LendingHome has ever seen,” says Arvind Mohan, LendingHome’s COO. “Investors continue to view our performance and product with confidence and the size of this securitization illustrates that fact. We continue to be excited to be a leader in bringing this asset class to institutional investors, and continue helping our investor customers close more real estate deals and grow their businesses.”
Nomura Securities International Inc. was the structuring agent of the two-year revolving transaction. Nomura and Barclays Capital Inc. were co-lead managers, while Performance Trust Capital Partners LLC was a co-manager.
