Redwood Diversifies Rating Providers, Loan Characteristics in Jumbo MBS
June 22, 2012
The pending issuance by Redwood Trust of a $293.59 million jumbo non-agency mortgage-backed security appears to have been adjusted to address concerns about previous issuance by the real estate investment trust. The deal is set to receive AAA ratings from three rating services, more lenders contributed to the deal, and the concentration of loans in San Francisco was reduced. The borrowers in this pool have high FICO scores, significant liquid cash reserves and equity in their properties, which are ...