The transaction includes 374 first-lien, residential mortgage loans with an aggregate balance of $276.9 million. WIN 2014-2 will pool home mortgages with an average 764 FICO score and 71.5% loan-to-value.
Each mortgage features a 30-year term with a fixed interest rate. The average loan balance is $740,391.
WIN 2014-2 is the second transaction for WinWater Home Mortgage, a New York-based mortgage conduit that formed in 2013. In June, WinWater launched its first jumbo securitization, which featured an aggregate balance of $250 million.
Kroll Bond Ratings Agency
, which recently released its presale report on the offering, said most of the mortgages are located in California. The agency noted that non-conforming prime mortgages tend to be in regions of the country where home prices are the highest.
WinWater Home Mortgage, a buyer of the loans affiliated with former Deutsche Bank AG banker Neil Ahuja’s Premium Point Investments hedge fund, is rolling out its second jumbo residential mortgage-backed securitization.