WinWater Home Mortgage plans $250 million jumbo RMBS

WinWater Home Mortgage, which refers to itself as “a residential mortgage conduit aggregator focused on opportunities in the non-agency jumbo sector,” is set to offer its first mortgage-backed securitization, according to various reports.

Bloomberg reports that WinWater has hired JPMorgan Chase (JPM) and Bank of America (BAC) to market the jumbo RMBS which is expected to be valued at between $249 million and $250 million.

A report from Reuters says that the offering will be called WIN 2014-1 and that the deal is a private 144A offering. Reuters also reports that the pool of loans will have an average FICO score of 760 and that the loans carry a 71% loan-to-value.

According to WinWater’s website, the company was “formed by a group of highly seasoned professionals to create a platform where product and process come together to partner with originators nationwide.”

The company’s website also says that the company was formed “by certain principals of Premium Point Investments.” The company’s website also tells its visitors, “WinWater is not just another investor. We are solely an aggregator of loans. We are not your competition!”

Reuters reports that the WinWater RMBS is expected to be rated by Standard & Poor’s, Kroll Bond Rating Agency and DBRS.

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