Goldman Sachs is preparing to bring its first post-crisis prime jumbo residential mortgage-backed securities transaction to market, according to a Kroll Bond Ratings Agency presale report.
A loan pool with an outstanding principal balance of almost $283 million backs 18 classes of mortgage pass through securities in the deal, GS Mortgage-Backed Securities Trust 2014-EB1. EverBank is the originator and servicer for the deal. Wells Fargo is the master servicer. California properties back almost 50% of the mortgages.
Fifty-nine 10-year hybrid adjustable-rate mortgages accounting for a little more than 16% of the aggregate pool balance comprise one group of collateral in the transaction. An addition 307 seven-year hybrid ARMs account for the balance of the collateral.
Almost 8% of the mortgages have a 10-year interest-only period. The weighted average loan-to-value and combined LTV ratios of are both roughly 70%. A little more than 5% of the pool has known junior mortgages. The pool’s WA original and current credit scores are 770 and 760.