The deal marked Kiavi's 19th securitization, elevating its total issuance to over $5 billion since it launched its securitization program in 2019, including $1.4 billion in 2024 alone.
Arvind Mohan, CEO of Kiavi, said in a statement that Morningstar DBRSs rating enabled the company to attract a wider set of institutional investors, including first-time investors.
The notes are backed by 659 mortgage loans with a total principal balance of approximately $168 million.
Recent data from Attom showed that the gross profit margin for home flippers reached 30.2% in first-quarter 2024, the third time in four quarters that the figure had increased.
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