"The deal represents a defining milestone for the firm. It reflects not only the continued strength of the non-QM RMBS market, but also the confidence investors place in our platform and in AD non-QM mortgages as a premier asset class."
"The pool includes 1,793 mortgages with an average seasoning of four months. Nearly all loans (99.9%) have fixed rates and 4.6% feature an initial interest-only period. Borrowers in the pool have an average credit score of 748 and a weighted average combined loan-to-value ratio of 68.6%."
"About 84% of the loans were underwritten using alternative documentation, including bank statements, debt-service-coverage ratios and profit-and-loss statements. Approximately 4.8% are second-lien loans, and 22% are categorized as non-QM."
Imperial Fund Asset Management achieved a major securitization milestone involving 1,793 mortgages with an average seasoning of four months. The pool consists primarily of fixed-rate loans (99.9%), with borrowers averaging a 748 credit score and a 68.6% weighted average combined loan-to-value ratio. About 84% of loans used alternative documentation methods such as bank statements and profit-and-loss statements. The securitization includes 22% non-QM loans and 4.8% second-lien loans, with AD Mortgage originating 91% of the mortgages. Major financial institutions including J.P. Morgan Securities, Barclays Capital, Morgan Stanley, and others served as initial purchasers, reflecting substantial investor confidence in the non-QM RMBS market.
#non-qm-rmbs-securitization #alternative-documentation-mortgages #asset-backed-securities #nonprime-lending
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]