RMBS is back — but not as we know it

By Ryan Bolger
23 Apr 2015

The US non-agency RMBS market is coming back in a very different way, at the hands of non-bank speciality finance companies who are launching new lending programs.

FirstKey Lending and B2R Finance were the first to securitize pools of single-family mortgages to investor-landlords earlier this month.

The mortgages backing those deals were more commercial than residential in nature, given their short maturities and floating interest rates. The cashflows on the securitizations stem from ...

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