Top non-QM securitizer pushes volume to approximately $4 billion
Washington, D.C. – June 12, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix and flip loan programs, has finalized its 11th rated RMBS (residential mortgage-backed securities) transaction for $609.2 million.
The transaction was comprised of 1,204 loans with an average LTV of 70% and 710 credit score.
To date, Verus is the top non-QM securitizer and for 2019, it has been the largest non-QM issuer with $1.6 billion of collateral across three transactions. This transaction was the investor’s second largest in its history, and raises the company’s overall securitization volume to approximately $4 billion.
“We are excited with the level of activity we’re seeing this year, and we expect strong interest in and demand for non-QM activity to continue throughout the remainder of the year,” said Dane Smith, President of VMC. “We remain dedicated to assisting correspondent originators with growing their businesses with responsible non-QM solutions and are committed to efficiently purchasing quality loans,” Smith added.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-agency 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 in excess of $5 billion in expanded, non-agency loans since its inception. In addition, through its affiliates, VMC has completed 11 rated securitizations. Mortgage bankers can learn more about VMC’s investor products by visiting www.verusmc.com.