Total private-label residential mortgage-backed securitized issuance is about $6 billion this year, compared with $2.8 billion from 2011, according to Standard & Poor’s ratings service.
While new issue private-label RMBS market activity remains subdued, it is expected to increase to $15 billion next year.
"Agency issuance continues to dominate the market, but several issuers are accumulating collateral," according to industry reports.
Year-to-date, two issuers securitized new private-label originations and one has securitized seasoned loans.
The deal securitizes prime, jumbo mortgages purchased as part of a mortgage portfolio acquired for structured finance purposes by subsidiary DLJ Mortgage Capital.
First Republic Bank mortgages make up the majority of the transaction, or roughly 12.5% of the loan pool.
Other originators include Fremont Bank, Prime Lending, Flagstar Bank, Shore Financial Services, Cornerstone Mortgage Co., and WJ Bradley Mortgage Capital, according to Fitch Ratings.