Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor lending solutions and fix and flip loan programs, has finalized its ninth rated residential mortgage-backed securities transaction for $664.1 million.
Verus Securitization Trust 2019-1 was VMC’s largest transaction to date and the second largest in the non-QM space.
The transaction was comprised of 1,270 loans. The securitization was rated by S&P Global Ratings and Morningstar.
“We are off to a great start in 2019 and seeing increased interest in non-QM lending,” says Dane Smith, president of VMC, in a release. “At Verus, we’re committed to creating a market for innovative loan products and building partnerships with correspondent originators. We’re determined to help originators meet the needs of underserved borrowers who fall outside traditional credit guidelines.”
Since its inception 2015, Verus has purchased in excess of $5 billion in expanded, non-agency loans.