A marketplace home lender that is operating out of Northern California has pulled off its first securitization of jumbo residential mortgages.
The transaction involved residential mortgage-backed securities issued on 270 jumbo loans with an aggregate principal balance of $169 million.
All of the loans are fixed rate. More than 78 percent of the mortgages have 30-year terms, and the remaining 22 percent have 15-year terms.
Source: Mortgage Daily