Flagstar brings US RMBS market’s first prime investor property deal

JP Morgan and Wells Fargo are arranging a prime US RMBS deal backed by investor properties for Flagstar Bank, the first deal of its kind to hit the market according to Kroll Bond Ratings.

  • By David Bell
  • 15 May 2018

The new $329m RMBS deal, FSMT 2018-3INV, is Flagstar’s fifth prime RMBS deal but is the first ever prime deal in the US to be backed by investment properties, according to Kroll, which has rated the deal.

All of the 1077 mortgages in the collateral pool were eligible ...

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