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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