Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix and flip loan programs, reports that it finished 2019 strong. It recently finalized its fourteenth and fifteenth rated RMBS (residential mortgage-backed securities) transactions for $533.5 million and $680.7 million respectively.
Verus is the largest non-QM issuer with almost $3.8 billion of collateral across seven transactions in 2019 and 15 transactions overall, and nearly $6 billion overall securitization volume. Compared to 2018, Verus has more than doubled its shelf issuance and increased participation from unique bond investors by more than 60%.
The 14th transaction, Verus 2019-INV3, for $533.5 million was comprised of 1,564 investor loans. The 15th transaction, Verus 2019-4, for $680.7 million was comprised of 1,451 loans.
“Our commitment to leading the non-QM space and establishing it as a viable, mainstream lending alternative is evident in the success we’ve experienced over the last four years,” said Dane Smith, President of VMC. “As one of the first entrants in this sector, we’ve seen it transform into one of the most promising and exciting opportunities in the mortgage industry. We’ve made tremendous progress in a fairly short timeframe which is due, in part, to our talented team and complete dedication to helping lenders thrive in non-QM.
Founded in 2015, Verus Mortgage Capital (VMC) is a non-QM correspondent investor backed by Invictus Capital Partners, a leading investment firm. VMC purchases loans in all 50 states and the District of Columbia and focuses solely on the non-agency market. It offers correspondent lenders a wide range of home financing products for credit worthy borrowers.
The Washington, D.C.-based company, with operations located in Minneapolis, has purchased in excess of $6 billion in expanded, non-agency loans since its inception. In addition, through its affiliates, VMC has completed 15 rated securitizations. Mortgage bankers can learn more about VMC’s investor products by visiting www.verusmc.com.