HELOCs are back with a bang

摘要

Cerberus Capital Management-owned firstkey mortgage sold the first RMBS backed entirely by home equity lines of credit (HELOCs) since the financial crisis. The US$277.7m deal, called Towd Point HE Trust 2019-HE1, is the latest example of mortgage originators bringing more exotic deals to the market, as investors become increasingly comfortable with alternative mortgage credit risk.