Kiavi, an online lending platform serving real estate investors, has announced the securitization of $218 million in unrated residential transition loans (RTLs).
Nomura Securities International was the sole structuring agent of this securitization with Nomura, Barclays Capital and Performance Trust Capital Partners, joint book-runners and co-lead managers.
RTLs are typically utilized for the purchase, financing, refinancing, and renovation of a property. Kiavi said this is the 9th securitization and follows its expansion into several new states and will support $750 million in loan origination.
Arvind Mohan, Chief Operating Officer at Kiavi, said the securitization was a testament to their leadership in the space:
“Executing in today’s challenging market environment demonstrates our investors’ continued confidence in our products and performance, and it extends our position as a leading issuer of RTL products. We are excited to secure the latest round of securitization allowing us to serve our customers with stronger products as they continue to rehabilitate America’s aging housing stock at a time when over two-thirds of U.S. homes are over 30 years old.”
Since platform launch (initially as LendingHome), Kiavi has origianted over $10 billion in funding.