Park Capital Management, an affiliate of AmWest Funding Corp (“AmWest”), has completed the issuance of PRKCM 2023-AFC1, an approximately $500 million securitization backed by Non-QM loans originated by AmWest.
At deal closing, PRKCM 2023-AFC1 consisted of 1,004 loans. The securitization has a non-zero weighted average original credit score of 745, a weighted average loan-to-value ratio of 71.1%, and a non-zero weighted average original debt-to-income ratio of 39.8%.
AmWest sold securities rated from AAA through BB. This transaction is AmWest’s fifth PRKCM securitization issuance as the company continues to serve as a leader in the Non-QM market.
Janney Montgomery Scott served as co-manager for the transaction.
About The AmWest Group
The AmWest Group, based in Brea, California, was originally founded in 1995. The organization is driven by a management team possessing an average of two decades of experience. Focused on providing home loans responsibly throughout the communities served, AmWest’s goal is to provide exceptional customer experience for its clients. AmWest helps clients achieve the dream of home ownership or seize today’s real estate investment opportunities.
For more information on AmWest Funding Corp., visit www.amwestfunding.com.
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