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First reverse mortgage RMBS since 2007 markets
Waterfall Asset Management is marketing the first publically-rated RMBS backed by reverse mortgages since 2007. Dubbed CFMT 2018-RM2, the US$571.8m transaction is backed by 915 active, proprietary reverse mortgage loans originated between 2002 and 2008.
The underlying loans were originated by eight legacy reverse mortgage lenders and subsequently aggregated by Cascade and Waterfall controlled entities.
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