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WinWater Home Mortgage names banks for debut prime jumbo MBS

By Joy Wiltermuth

NEW YORK, June 4 (IFR) - WinWater Home Mortgage has mandated JP Morgan and Bank of America to sell a roughly US$250m debut prime jumbo home loan securitization.

The transaction, called WIN 2014-1, marks a first for the company, which was formed last year. It doesn't originate loans but buys them on the secondary market.

The private 144A offering is expected to be announced next week and will pool loans with an average 760 FICO score and 71% loan-to-value.

Investor conference calls start Thursday. Standard & Poor's, Kroll Bond Rating Agency and DBRS will be rating the deal.

(Reporting by Joy Wiltermuth; Editing by Marc Carnegie)