With $2 Billion Committed, Shellpoint Readies Its First MBS Backed by ‘Super Prime’ Loans
May 17, 2013
Shellpoint Acceptance Corp. hopes to come to market with its first non-agency MBS by summer, securitizing not only jumbo loans, but a host of mortgages that fall outside Fannie Mae and Freddie Mac underwriting guidelines for different reasons. According to a recent filing with the Securities and Exchange Commission, the company has committed $2 billion in capital to its shelf registration, though its first deal will be smaller than that. Shellpoint refers...
It will be the 11th issuance of its type by loanDepot.
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