New Redwood Trust RMBS Deal Takes Shape

January 12, 2012, 11:21 a.m. EST 1 Min Read

More details emerged this week on Redwood Trust's new RMBS deal. The mortgage REIT told ASR last month that it planned to issue its fourth transaction early 1Q12.

According to a Dow Jones report, the deal is expected to come in larger than Redwood's prior deals at $405 million. It will be managed by Credit Suisse and is expected to price on Jan. 20.

Redwood Trust's prior three securitizations backed by newly originated Jumbo mortgages total close to $900 million. The company told ASR that along with the 1Q12 deal it also planned to do more deals over the course of this year.

"Our investor-friendly governance and structures have set the bar for private-label securitizations going forward," said Brett Nicholas, executive vice president and chief operating and investment officer at Redwood Trust. "The performance of these past three deals has been excellent and no one's missed a payment. There are no delinquencies or losses."

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