New Residential boosts quality in latest $493M RMBS "clean up"


Based on rising FICO scores, high equity levels and low delinquency rates, New Residential Investment Corp. is marketing one of its strongest portfolios in two years of older performing and re-performing mortgage loans, according to presale reports.

New Residential Mortgage Loan Trust (NMRLT) 2017-4 is a pool of 3,500 loans backing the issuance of bonds totaling $493 million. Nearly all of the loans – which include prime, Alt-A and subprime – are current (96.1%) and have collateral characteristics that allowed one of the trust’s lowest levels of senior-note credit enhancement among its 13 deals dating back to 2014.

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