Non-agency MBS issuers are off to a fast start this year, with four deals marketing this week. The MBS are backed by non-agency jumbos and GSE-eligible mortgages for investment properties.
Officials at Velocity said the acquisition of an FHA multifamily lender will help to expand the company’s product offerings and serve as a hedge for its traditional focus on business-purpose lending.
Addison, TX-based Mid America Mortgage will fund its downpayment assistance program for low- and moderate-income borrowers through a gestation repo line secured from JVB Financial Group.