JPMorgan brings its first post-boom private-label RMBS
Banking giant JPMorgan Chase issued its first private-label residential mortgage-backed securities deal of the year, signaling the company’s comeback to this segment of the market.
The platform J.P. Morgan Mortgage Trust, Series 2013-1 ($49.12 -0.08%) reported a total balance of $616.3 million.
The company was set to issue this deal in February, butstructural issues got in the way, delaying the process.
Fitch Ratings pre-rated the deal, with the expected outlook slated as ‘stable’ with all the tranches also receiving AAA ratings.
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