loanDepot Inc. has closed Mello Mortgage Capital Acceptance 2021-INV4, a $371 million securitization of agency-eligible mortgages secured by residential investment properties, originated through its retail and partner channels.
Year-to-date, loanDepot entities have sponsored over $2.8 billion in private-label residential mortgage-backed securities (PLS) across seven transactions.
The collateral pool consists of 952 prime, fully amortizing agency-eligible mortgage loans, with original terms of maturity ranging from 20 to 30 years. The loans were made to borrowers with strong credit profiles and low leverage; the pool has a weighted average FICO score of 767 and an original combined loan-to-value ratio of 64.05%. The key collateral attributes of the pool are generally consistent with other recent agency-eligible investment property transactions.
“Our continued success in PLS issuance is another significant milestone and further support for the continuing strength of our diversified channel strategy, growing brand and proprietary mello tech stack,” says Anthony Hsieh, loanDepot’s founder and CEO.
“The repeatability and scale of our program allows loanDepot to leverage its expertise in bespoke capital transactions to facilitate superior pricing of our loans in the secondary market,” adds Hsieh. “Our diversified and sophisticated financing approach enables further flexibility as we continue growing our business and driving innovation through which to serve our customers.”
J.P. Morgan served as lead initial purchasers of the offered securities.
