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Roc360 Successfully Issues Three Securities Worth $200 Million

Roc Capital Holdings LLC (Roc360) has announced the closing of its first round of syndicated revolving securitization of residential transitional loans.  

Roc36, a digital platform for residential real estate and an originator of investor-level loans, acted as a sponsor through its wholly-owned subsidiaries (such as Haus Lending) which underwrote, originated, and funded all of the initial mortgage loans in the transaction. 

The Roc Mortgage Trust-2021-RTL1 securitization was structured with total offered notes of approximately $200.79 million across two classes of senior notes and one class of mezzanine notes. None of the offered notes will be rated by any rating agency such as Moody’sStandard & Poor, or Fitch. 

“The securitization represents interest in a pool of performing, fixed-rate, interest-only, first lien mortgage loans to real estate investors, with eligible collateral encompassing transitional one-to-four-family residential, multifamily and mixed-use properties,” said a press release on the announcement. “The deal enjoyed strong demand and was oversubscribed with broad institutional participation, backed by strong origination capacity and the credit performance of the more than $4 billion in loans originated by Roc360 since 2014.” 

Nomura Securities International, Inc. acted as sole lead structuring agent of the transaction. Morgan Stanley & Co. LLC served as joint bookrunner and co-lead manager on the transaction. 

“The securitization features a two-year revolving period during which principal collections on the underlying mortgage loans can be used to purchase additional loans and fund rehabilitation draws. Credit enhancement for the transaction includes subordination of the notes, overcollateralization and excess spread.” 

About Author: Kyle G. Horst

Kyle G. Horst is a reporter for DS News and MReport. A graduate of the University of Texas at Tyler, he has worked for a number of daily, weekly, and monthly publications in South Dakota and Texas. With more than 10 years of experience in community journalism, he has won a number of state, national, and international awards for his writing and photography including best newspaper design by the Associated Press Managing Editors Group and the international iPhone photographer of the year by the iPhone Photography Awards. He most recently worked as editor of Community Impact Newspaper covering a number of Dallas-Ft. Worth communities on a hyperlocal level. Contact Kyle G. at [email protected]

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