Two Harbors’ first residential mortgage securitization of the year doesn’t exactly break any new ground.

The $279.5 million Agate Bay Mortgage Trust 2015-1 is backed by the same type of collateral as the three deals that the real estate investment trust brought to market in 2014: 30-year, fixed-rate mortgages to borrowers with strong credit, significant amounts of equity in their property, and plenty of cash reserves.

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