Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, recently completed its seventh rated residential mortgage-backed securities (RMBS) transaction for $442 million.
Completed in December, the deal was the second largest in VMC history and its fourth securitization in 2018.
Rated by S&P Global Ratings and Morningstar, the transaction included 809 loans from 61 lenders. It included owner occupied non-QM loans as well as non-owner occupied loans.
“We continue to see great demand for non-QM and investor loans and expect that to continue in 2019,” says Dane Smith, president of VMC, in a release.
“We remain focused on the dynamic secondary market where we are engaged with quality partners,” Smith adds. “Purchasing responsible non-QM and investor loans consistently and efficiently illustrates our commitment to this sector.”
Verus claims it has purchased in excess of $3 billion in expanded, non-agency loans since its inception.
In addition, through its affiliates, the firm has completed seven rated securitizations