Kiavi, formerly LendingHome, recently closed a $218 million private-label securitization of unrated short-term mortgages — described as “residential transition loans” (RTLs) by the lender, which serves the fix-and-flip market.
The deal represents Kiavi’s ninth such securitization under its LHOME shelf since launching its revolving securitization program in 2019, according to the company. The offering includes a two-year revolving term during which principal payoffs on the underlying loans can be reinvested in purchasing additional newly originated loans.
“The transaction is estimated to provide capital to support approximately $750 million in loan originations over the life of the deal and will help real estate investors details ⇒
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