Supply drought threatens Invesco jumbos

By Matthew Scully
07 May 2014

Invesco Mortgage Capital (IVR) is hoping to scrape together enough new originations for two more non-agency mortgage-backed securities this year. The securitizations would likely resemble the $271m deal they sold last week, but the dearth of new originations could make it difficult to gather collateral, people familiar with the plans said.

The Invesco mortgage real estate investment trust and lead manager Credit Suisse has sold close to $2bn over six residential mortgage-backed securities, two rolled out this year. Invesco has benefited by holding on to the subordinated notes in each of the deals, and is reaping high single-digit to ...

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