Nationstar is set to price a $158 million securitization of non-agency RMBS that is being led by joint bookrunners, Barclays and BofA Merrill Lynch, according to a person familiar with the deal.
The deal, Nationstar Mortgage Loan Trust 2013-A, will offer class A notes have been assigned a preliminary rating of AAA’ by Standard & Poor’s.
The notes are structured with a weighted average life of 3.15-years. Interest only and subordinated notes are expected to be offered after the senior notes. The deal is slated to close on Dec. 10.
Nationstar’s residential mortgages also made up 44% of Citigroup’s October $210 million non-agency RMBS called Series 2013-J1 Mortgage Pass-Through Certificates.