Starwood Property Trust Completes $374 Million Residential Non-Agency Securitization
STARWOOD PROPERTY TRUST, INC. Starwood Property Trust Inc. (STWD)
Last starwood property trust, inc. starwood property trust inc. earnings: 2/25 07:00 am
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Source: PR Newswire
GREENWICH, Conn., Aug. 22, 2018 /PRNewswire/ -- Starwood Property Trust, Inc. (NYSE: STWD) ("Starwood"), announced it has completed its inaugural residential mortgage securitization, STAR 2018-IMC1, a $374 million transaction comprised primarily of non-QM residential loans. The securitization is backed by 100% Impac Mortgage Corp. (NYSE American: IMH) ("Impac") originated or acquired mortgages, and the $275mm senior tranche of STAR 2018-IMC1 received a AAA rating from both S&P and KBRA with over 94% of the transaction rated at least investment grade.The transaction was comprised of 889 loans with a weighted-average credit score of 732 and loan-to-value of 62.8%.Mr. Jeffrey F. DiModica, President of Starwood Property Trust commented, "The closing of this securitization represents a further diversification of funding sources for our residential lending cylinder, which is an accretive new business with attractive growth prospects for our multi-cylinder platform."About Starwood Property T
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STWD
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STWD
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- 4/2/24 - Form 4
- 3/29/24 - Form 4
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