Not so fast.

Two Harbors, which last week announced it was getting out of private label mortgage securitization business, has completed one last deal.

The deal, Agate Bay Mortgage Trust 2016-3, is backed by 518 loans with a total balance of approximately$380.7 million, according to Fitch Ratings.

The collateral pool consists of high-quality 30-year, fixed-rate, fully amortizing loans to borrowers with strong credit profiles, low leverage and large liquid reserves. The loans have a weighted average FICO score of 772 and an original combined loan-to-value ratio of 69.0%. That’s largely consistent with transactions that the sponsor completed this year and last.

One improvement over recent Two Harbors transactions is that the mortgages backing this deal are far less heavily concentration it California. The Golden State still accounts for the biggest concentration of loans, 34.5%. As a result, Fitch did not apply a penalty to the pool’s probability of default to account for geographic concentration risk.

Fitch assigned ‘AAA’ ratings to the senior tranchesof the deal, which benefit from 12.8% credit enhancement

On July 28, Two Harbors announced it would discontinue its residential mortgage conduit and securitization business. The wind-down is expected to be substantially completed by the end of 2016.

Still, Two Harbors will be on the hook for loans from any of its deals found to be in violation of representation and warranties. According to Fitch, the sponsor plans to maintain a capitalized entity dubbed TH TRS in order to satisfy any repurchase obligations.  

There are 442 loans (85.2% of the mortgage pool) with application dates after Oct. 3, 2015 and, therefore, are subject to new disclosure rules. All of them initially failed to comply, but largely due to reasons easily corrected, according to Fitch.  

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