ZAIS Financial Corp. closed on a $150 million financing facility in the form of a master repurchase agreement with Citibank.

Red Bank, N.J.-based Zais (ZFC) said it used $78.5 million of the financing facility to acquire a residential mortgage loan portfolio with an unpaid principal balance of $136.6 million.

“We are pleased to have added whole loan financing capacity and also to have utilized a portion of that financing capacity to fund a portfolio purchase that moves us towards our long-term asset allocation target with respect to whole loans,” said Michael Szymanski, president of ZAIS Financial.