The private-label MBS market might get a boost from two companies that are planning to issue in 2012 — Redwood Trust, the only issuer of non-agency MBS securitizations post-crisis, and Two Harbors Investment Corp., which is partnering with Barclays Capital.

In an 8-K filing with the Securities and Exchange Commission (SEC), Two Harbors updates an earlier repurchase agreement with Barclays.

Back in May 2011, Two Harbors had said it will be working toward a $250 million RMBS using a warehouse to accumulate Jumbo mortgages.

There is no set timetable for the propective offering, although the Minnetonka, Minn.-based REIT plans to issue an RMBS once it amasses roughly $200 million of product, according to the SEC filing.To view the entire document, please click here.

The firm, however, is still aiming to target a $250 million-sized securitization.  

If this transaction pushes through, the Two Harbors deal will join the three Redwood Trust offerings. These deals, which are backed by newly originated Jumbo mortgages, total close to $900 million. 

Redwood told ASR editor Nora Colomer that it is planning to do more deals in 2012. Redwood is, in fact, expecting to issue its fourth transaction in early 1Q12 (for full ASR story click here).

In the meantime, Two Habors noted in its SEC filing that Barclays will “assist” it by “sourcing certain Jumbo residential loans and developing relationships with mortgage loan originators.” The REIT’s affiliate, TH TRS Corp., struck a master repurchase agreement with Barclays in May of 2011.


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