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

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How to respond to conditions

This short video will review how to respond to conditions pre and post close.

How to submit bank statements

Watch this short video for instructions on how to submit bank statements to Verus.

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