WinWater Home Mortgage’s first prime jumbo securitization of the year is backed by a mix of 15-year and 30-year loans, according to DBRS.
WinWater Mortgage Loan Trust 2016-1 is backed by 510 loans with a total principal balance of $407.9 million. The trust will issue multiple senior classes of certificates backed by either a pool of 30-year fixed-rate mortgages or a pool of 15-year fixed-rate mortgages. The trust will also issue subordinate certificates that will be cross-collateralized between the two pools. This is generally known as ‘Y-Structure,’ according to DBRS.