Invictus follows Ellington debut in non-QM bond market

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By David Bell
14 Nov 2017

Non-prime mortgage aggregator Invictus Capital Partners has launched a new RMBS deal backed by mortgages that fall outside government sponsored enterprise buying programmes, following a debut deal from Ellington that was priced on Monday.

Ellington’s $138.55m debut transaction, EFMT 2017-1, was arranged by Nomura and sold $96.96m of senior triple-A notes at 75bp over swaps. Credit Suisse was also on the deal as co-manager.

Ellington said in its third quarter results presentation last week that it intended to use the securitization ...

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