{"id":62484,"date":"2026-03-07T03:05:03","date_gmt":"2026-03-07T02:05:03","guid":{"rendered":"https:\/\/housesmarketplace.com\/redwood-launches-aspire-securitization-shelf-with-391m-non-qm-deal\/"},"modified":"2026-03-07T03:05:03","modified_gmt":"2026-03-07T02:05:03","slug":"redwood-launches-aspire-securitization-shelf-with-391m-non-qm-deal","status":"publish","type":"post","link":"https:\/\/housesmarketplace.com\/ru\/redwood-launches-aspire-securitization-shelf-with-391m-non-qm-deal\/","title":{"rendered":"Redwood launches Aspire securitization shelf with $391M non-QM deal"},"content":{"rendered":"
\n

Redwood Trust <\/strong>closed a $391 million securitization backed by nonqualified mortgages (non-QMs), marking the inaugural deal from its Aspire platform<\/a> that was expanded in early 2025, the company announced Friday.<\/p>\n

The transaction (SPIRE 2026-1) establishes Redwood\u2019s third securitization shelf, alongside Sequoia for nonagency mortgages and CoreVest for business-purpose lending.<\/p>\n

Aspire\u2019s first securitization includes 752 loans to borrowers with an average credit score of 754 and a weighted average combined loan-to-value (LTV) ratio of 69.79%. Select Portfolio Servicing<\/a><\/strong> will serve as servicer. Morgan Stanley & Co. LLC<\/strong> acted as sole structuring agent and sole bookrunner.<\/p>\n

Aspire operates through a correspondent model, acquiring closed loans rather than originating them directly.<\/p>\n

\u201cIt\u2019s serving a growing segment of the mortgage market, which recognizes there\u2019s a large cohort of high-quality borrowers who are not well served necessarily by traditional government programs and who also fall outside the traditional parameters of our jumbo mortgage<\/a> business,\u201d Redwood President Dash Robinson said in an interview with \u0416\u0438\u043b\u044c\u0435\u041f\u0440\u043e\u0432\u043e\u043b\u043e\u043a\u0430<\/strong>.<\/p>\n

Borrowers typically include self-employed business owners, rather than traditional W-2 employees, or \u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u044b \u0432 \u043d\u0435\u0434\u0432\u0438\u0436\u0438\u043c\u043e\u0441\u0442\u044c<\/a> who generate rental income from properties.<\/p>\n

Most of the volume comes from bank-statement products, where the company analyzes at least one to two years of bank statements to evaluate income. Aspire also acquires debt-service-coverage ratio (\u0414\u0421\u041a\u0420<\/a>) loans, which are generally underwritten based on a property\u2019s cash flow.<\/p>\n

Aspire acquires loans from banks and nonbanks, totaling about 100 partners. But \u201cabout two-thirds of the production we\u2019ve done within Aspire has come from sellers we already worked with through Sequoia,\u201d Robinson said.<\/p>\n

The platform has already locked about $3 billion in volume. Redwood estimates the \u043d\u0435-QM<\/a> market will reach roughly $150 billion this year.<\/p>\n

\u00a0\u201cIf you think about our volume last year, even our fourth quarter run rate, our market share is probably 4% to 5%,\u201d Robinson added.<\/p>\n

Redwood expects to continue using a mix of whole loan sales, securitizations and potential joint ventures \u2014 similar to the \u043f\u0430\u0440\u0442\u043d\u0435\u0440\u0441\u0442\u0432\u043e<\/a> CoreVest maintains with CPP Investments<\/strong>.<\/p>\n

\u201cThere\u2019s a very broad array of investors that are interested,\u201d Robinson said. \u201cThere\u2019s a risk premium (compared to conforming loans) that investors find attractive, particularly for non-QM and DSCR products.\u201d<\/p>\n

These loans also tend to match well with the asset-liability structures of many institutional buyers because they generally carry less prepayment risk than agency or jumbo mortgages, Robinson added.\u00a0<\/p>\n

More stable prepayment profiles also appeal to insurance companies, he added. For example, many DSCR loans include prepayment penalties during the first five years, requiring borrowers to pay a premium if they \u0440\u0435\u0444\u0438\u043d\u0430\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u0442\u044c<\/a> or sell early.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Redwood Trust closed a $391 million securitization backed by nonqualified mortgages (non-QMs), marking the inaugural deal from its Aspire platform that was expanded in early 2025, the company announced Friday. The transaction (SPIRE 2026-1) establishes Redwood\u2019s third securitization shelf, alongside Sequoia for nonagency mortgages and CoreVest for business-purpose lending. Aspire\u2019s first securitization includes 752 loans […]<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-62484","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nRedwood launches Aspire securitization shelf with $391M non-QM deal - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.com\/ru\/redwood-launches-aspire-securitization-shelf-with-391m-non-qm-deal\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Redwood launches Aspire securitization shelf with $391M non-QM deal\" \/>\n<meta property=\"og:description\" content=\"Redwood Trust closed a $391 million securitization backed by nonqualified mortgages (non-QMs), marking the inaugural deal from its Aspire platform that was expanded in early 2025, the company announced Friday. 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