Repo RMBS changes tack

Category: RMBS

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LoanDepot is in the market with a US$300m repo RMBS transaction, marking the first issuance under the Station Place programme (SCI 5 February 2016) in which the non-bank lender is acting as repo seller, as well as sponsor and servicer. Dubbed LoanDepot Station Place Agency Securitization Trust 2017-1, the deal comprises a revolving warehouse facility collateralised by newly originated first-lien, fixed-rate residential mortgage loans eligible for purchase by Fannie Mae and Freddie Mac or for guarantee by Ginnie Mae.

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