Financing will invest in approximately $1.2 billion in originations
LendingHome Funding Corporation, a provider of fix-and-flip financing for real estate investors, announced closing a $388 million revolving mortgage-backed securitization.
According to its release, the money from the securitization will provide capital that supports roughly $1.2 billion in loan originations over the life of the deal. The transaction has a two-year revolving period during which principal payoffs can be reinvested in newly originated loans.
The securitization represents the seventh broadly syndicated transaction LendingHome has sponsored.
“We’re thrilled that our latest financing deal was equal to the largest securitization LendingHome has ever seen,” said LendingHome chief operating officer Arvind Mohan. “Investors continue to view our performance and product with confidence, and the size of this securitization illustrates that fact. We continue to be excited to be a leader in bringing this asset class to institutional investors and continue helping our investor customers close more real estate deals and grow their businesses.”
Nomura Securities International served as the structuring agent of the financing. Nomura and Barclays Capital were co-lead managers, while Performance Trust Capital Partners was co-manager.
Earlier in August, LendingHome secured another revolving securitization, which it claims is “a sign of the continued investor confidence” in its product and performance.