New York Mortgage Trust Inc. has announced the completion of its second securitization of loans originated entirely through the company's mortgage banking subsidiary, The New York Mortgage Co. LLC.The securitization, New York Mortgage Trust 2005-2, consists of approximately $239.5 million of notes backed by high-credit-quality, first-lien, adjustable-rate and hybrid adjustable-rate mortgage loans, the company said. NYMT said it will retain all the notes and treat them as debt for accounting and income-tax purposes. The weighted average loan-to-value ratio of the loans in the trust is approximately 69.8%, and the weighted average FICO score is approximately 736, NYMT said. RBS Greenwich Capital served as the underwriter for the transaction.
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