Verus Mortgage Capital Announces Significant Non-QM Loan Activity for 2020
Verus Mortgage Capital, a full-service investor correspondent offering non-QM residential leasing programs and investors funded nearly $ 2.6 billion in loans in six-rated and unrated securitization transactions, according to a press release.
As the country’s largest securitization issuer backed by non-QM loans each of the past three years, Verus’ 2020-2 issue was the first post-COVID securitization with ratings including both Standard & Poor’s and Fitch Ratings, according to the statement.
The company has completed five post-COVID-rated securitizations, totaling more than $ 1.65 billion in guarantees. Verus also issued its first unrated securitization backed primarily by NPLs in 2020, which included traditional mortgages as well as residential bridging loans.
“We remain committed to growing the non-QM industry,” said Dane Smith, president of VMC. “Demand remains extremely strong for these products and financing without QM provides lenders with an excellent opportunity to grow in a highly competitive market. We could not be more excited about the future. The Non-QM business is growing. will grow significantly over the next two years and the lenders who are starting to create these products now will lead the industry. We will continue to grow our correspondent channel this year by partnering with lenders looking to provide Jumbo financing options , Non-QM and Investment. “