New Residential Investment Corp. is readying an offering of bonds backed by both reperforming and nonperforming mortgages, according to DBRS.

Like the real estate investment trust’s previous transactions, the collateral for New Residential Mortgage Loan Trust 2017-1 was acquired by exercising cleanup calls on older, private-label securitizations that it services. This typically happens when at least 90% of the collateral for the older deals has been paid down, making them uneconomical to service.

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