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The product expansion comes at a time when not just non-agency issuance is expected to have a record year, but other lenders are getting into wholesale.
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The $665 million loan is secured by close to 4,000 multifamily units across five states. California properties account for over half of the portfolio's value.
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The offering is backed by 1,902 first-lien residential mortgage loans, including both fixed- and adjustable-rate mortgages across prime and non-prime borrowers.
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Price gains slowed to a crawl from May to June, specifically in the West, but Central and East Coast regions showed steady year-over-year gains.
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With new ownership in place, securitization matches the financing needs of the firm's legacy, multi-tenant projects.
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BRAVO 2026-NQM8, underwritten by JPMorgan Securities, is the eighth non-QM RMBS deal under the BRAVO shelf.
August 24
Published July 11, 2014, 9:17 p.m. EDT
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Updated July 14, 2014, 9:19 a.m. EDT
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