Verus Mortgage Capital Finalizes $489.6 Million Non-QM MBS Transaction

Verus Mortgage Capital Finalizes $489.6 Million Non-QM MBS Transaction
Fast-growing correspondent investor closes largest non-QM MBS transaction in a decade

Washington, D.C. – September 5, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, has completed its sixth rated RMBS (residential mortgage-backed securities) transaction for $489.6 million. The transaction is the largest in VMC history, and also the largest non-QM MBS transaction in a decade.

The transaction was rated by S&P Global Ratings and includes 853 loans from 59 lenders. More than 80 percent of the loans are non-QM mortgages, with the balance of the loan pool consisting of property-focused investor loans. Nearly 45 percent were bank statement loans.

“This transaction is a milestone for our organization and the non-QM market,” said Dane Smith, President of VMC. “We are proud of the VMC team and all they have done to get us to this point. It’s a great way to underscore the fact that there is demand for quality non-QM and investor loans.”

“We’re committed to building quality partnerships and a vibrant secondary market,” Smith continued. “We will continue to demonstrate that commitment by purchasing responsible non-QM and investor loans in a timely and consistent manner.”

About Verus Mortgage Capital

Founded in 2015, Verus Mortgage Capital (VMC) is a non-QM correspondent investor backed by Invictus Capital Partners, a leading investment firm. VMC purchases loans in all 50 states and the District of Columbia and focuses solely on the non-QM market. It offers correspondent lenders a wide range of home financing products for credit worthy borrowers.

The Washington, D.C.-based company, with operations located in Minneapolis, has purchased just under $2.6 billion in expanded, non-QM loans since its inception. In addition, through its affiliates, VMC has completed six rated securitizations. Mortgage bankers can learn more about VMC’s investor products by visiting www.verusmc.com.

 

CONTACT: Amy Hansen

Seroka Public Relations

414-520-5680

amy@seroka.com

Verus Mortgage Capital Doubles Issuance, Increases Bond Investor Participation by 60 Percent in 2019

Leading non-QM issuer closed 14th and 15th RMBS Transactions Washington, D.C. – January 6, 2020 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix and flip loan programs, finished 2019 strong. It recently finalized its 14th and 15th rated RMBS (residential mortgage-backed securities) transactions for $533.5 million andRead More

Verus Mortgage Capital Introduces Prime Ascent Plus

Washington, D.C. – December 4, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix-and-flip loan programs, announced the launch of Prime Ascent Plus, a higher balance loan program for applicants with alternative income documentation. The following features are available to choose from: LTVs up to 90% FICOsRead More

Non-QM Continues to Grow: But where, exactly, does opportunity await?

The non-QM market, predicted to rise by as much as 400% this year, continues to be an important lending channel for many mortgage bankers. Particularly when 2020 is expected to see a slight decline in originations, finding new ways to replace volume is more crucial than ever. A recent survey of loan officers found aRead More

comment-alt-dotsflipgeometric-patternmoreverus-logoverus-mverus-v-purple-bgverus-v-purple-bgverus-vverus-v-red-bgverus-v