Station Place Securitization Trust 2016-1 plans to issue a $225 million mortgage securitization that will be the first backed by a revolving warehouse lending facility since 2009, according to Moody's Investors Service.
The deal also includes a first-time innovation involving the structure of some repurchase agreements.
Moody's has assigned a wide range of provisional investment-grade ratings to three classes of the residential mortgage-backed securities. The securities' collateral will be government-sponsored enterprise purchase-eligible, newly originated mortgages.
The revolving warehouse facility is sponsored by Jefferies Funding.
