SCI Start the Week - 5 November

Category: ABS CLOs CMBS

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A review of securitisation activity over the past seven days

Transaction of the week
Waterfall Asset Management is marketing the first publicly-rated RMBS backed by reverse mortgages since 2007. Dubbed Cascade Funding Mortgage Trust 2018-RM2, the US$571.8m transaction is backed by 915 active, proprietary reverse mortgage loans originated between 2002 and 2008 (SCI 2 November).

The underlying loans were originated by eight legacy reverse mortgage lenders and subsequently aggregated by Cascade and Waterfall-controlled entities.

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