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Redwood Trust ($21.45 1%) is putting together its fourth residential mortgage-backed securities deal of the year, underwritten by Barclays Capital.
The real estate investment trust filed its intentions with the Securities and Exchange Commission. The platform will be titled Sequoia Mortgage Trust 2012-4 and is looking to be under the typical series value of $300 million in paper, backed by jumbo mortgages.
The deal is expected to include one or more classes of AAA-rated securities tranches, along with subordinate classes.
The 2012-4 offering will also offer shifting interest provisions among various classes of securities depending on the varying rate in which the homeowners pay their mortgage.
The timing in the markets will pretty much make this deal oversubscribed by investors, considering the wrap of Maiden Lane offering by the Fed and the absence of any quantitative easing in the latest FOMC announcement.
Redwood is scheduled to announce its second quarter 2012 results on August 2, 2012, after the close of the market.