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.
Not yet registered? Join today to access SCI Content.