The first issuance of residential mortgage-backed securities solely backed by loans that were originated by loanDepot LLC is in the works.

Mello Mortgage Capital Acceptance 2018-MTG1 consist of 453 residential loans with a collective unpaid principle balance of $300 million.

All of the mortgages, which are primarily 30-year, first-lien loans, were originated by Foothill, Ranch, California-based loanDepot.

Source: Mortgage Daily