Deep Mortgage Knowledge               

Whole Loan Capital, LLC



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Post - January 8, 2018
IMN Mortgage Notes & NPL/RPL Forum

I'll be moderating a panel The Institutional Equity & Debt Financing Market... Attracting Capital, Leverage, Structures & Reporting Necessary January 30th.  

Standing room only no doubt...

Post - November 17, 2017
Asset-Backed Alert

Mortgage Startup Enters Queue

An online mortgage lender is looking at securitization as a funding source.

Neat Capital is thinking about bringing its debut offering to market by yearend 2018. The securities would be backed by prime-quality jumbo loans and would be rated.

Neat began lending in January. The Boulder, Colo., opera­tion so far has been funneling its accounts into a warehouse line and then selling them as whole loans.

“Securitization is definitely someplace we’re headed,” presi­dent Ryan Brennan said. “Our intent is to pursue it when it makes economic sense. Right now, banks are actively buying prime jumbos, so we have to monitor best execution.” Brennan arrived in January from Whole Loan Solutions. He also has spent time at BankUnited, S&P, Camulos Capital and Merrill Lynch.

Advising Neat on timing and other matters is market vet­eran David Akre. Akre is a principal at Whole Loan Capital, which isn’t affiliated with Whole Loan Solutions. He also has spent time at Five Oaks Investment, New York Mortgage, Thornburg Mortgage, Principal Asset Markets, GE Capital and Security Pacific Bank.

Neat concentrates on writing prime-quality jumbo loans, although it is able to originate accounts that are eligible for purchase by Fannie Mae and Freddie Mac. While some of its loans don’t meet the Consumer Financial Protection Bureau’s “qualified-mortgage” standards, the borrowers in those situa­tions typically are strong.

Part of Neat’s pitch is that it has fully automated the mort­gage application and underwriting process, resulting in docu­mentation that can easily be reviewed for conformation to its underwriting standards. It also touts the approach as adding transparency and cutting down on fraud.

Neat has about 32 staffers so far, and is adding more. The firm was founded in early 2015 by chief executive Luke John­son, formerly of Clayton Holdings and First Data. 

Whole Loan Capital acted as exclusive placement agent and advisor for a senior financing facility and mezzanine debt for a residential construction lender.
Is the current non-QM model sustainable?  
Post - June, 2017

Whole Loan Capital acted as exclusive placement agent for $30 million mezzanine debt facility for a prominent student lender.  

No terms are available. 

Post-January, 2017

Whole Loan Capital is marketing $120 million of solar panel loans for a large solar lender.  Average loan is approximately $20,000 with a coupon of 7%.  Average term is twenty years but the loans are approximately one year old.  

The seller is also the originator although the loans were sourced through contractors that install the panels on the homes.   The homeowner owns the panels.

There's a unique value proposition that the lender provides to the homeowners after the loan closes.  That service insures a better experience for the homeowner going forward and tends to reduce negative loan credit performance.  

Post-December 6, 2016

Source Media and CoreLogic are hosting "Whole loan trading: Driving opportunity through data and insight"




David Akre Principal Whole Loan Capital, LLC

Joe DeDominicis Managing Director Clayton Consulting Services

Mike Zai Vice President Ranieri Partners Management, LLC


Post - November 4, 2016

Asset-Backed Alert

Mortgage-finance veteran David Akre has signed on as a partner at Whole Loan Capital, a Huntington, N.Y., operation that specializes in trading nonperforming mortgages. This is Akre’s second stint at Whole Loan Capital, where he initially was on board from 2009 to 2013.  In between, he was a managing director in a mortgage-conduit  business that Five Oaks Investment shuttered about a month ago. Akre also is an advisor to Neat Capital, a marketplace originator of jumbo mortgages. Earlier, he worked at New York Mortgage Trust, Thornburg  Mortgage,  Principal Asset Markets, GE Capital and Security Pacific Bank.

Well almost right - DA

Here's a link to the old blog: