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Resi Wholesale Funding (Resi) – the non-bank lender co-owned by the Yellow Brick Road Group (YBR Group) and Magnetar Capital – has announced the completion of its first residential mortgage-backed securities (RMBS) transaction.
Solis 2026-1 raised $500 million from 11 institutional investors and marks the first move in Resi’s journey to evolving its funding platform and launching a securitisation program. The lender has said it intends to launch a second RMBS transaction in the final quarter of this year.
The lender, currently accessible to YBR and My Local Broker brokers, has said that the transaction means its cost of funds will be reduced by approximately 50 basis points compared with existing warehouse funding.
Resi’s loan book is currently sitting around $1.5 billion, with the non-bank reportedly settling $200 million in new loans in June, primarily prime alt-doc mortgages.
Speaking to Broker Daily about its first RMBS, Campbell Smyth, CEO of Resi, said Solis 2026-1 will enable it to reinvest the capital savings into its operational infrastructure, specifically targeting credit assessment and broker support channels.
He said: “We’re now writing $200 million a month through a 1,400-person broker network, which is astonishingly massive. And we’ve gone from being the number seven non-bank lender used by YBR brokers to number one by a huge margin – and that’s because we’re super focused on delivering results to brokers.
“We’ve been really leaning into our broker ratio – and our BDM-to-broker ratio is higher than anyone in market, and our loan volume to BDM ratio is also much higher, because we spend so much time focused on the broker,” he told Broker Daily and noted that Resi had six credit assessors and six pre-assessors.
“The reason why we can have such great loan flow per BDM is because of the experience with credit, experience with scenarios, and the experience with our BDMs – many of whom are ex-credit assessors and can talk about scenarios in depth.”
He said the new funding enables Resi to take the savings on the cost side of the business to “invest more in that broker experience piece”.
Smyth said: “Solis 2026-1 represents a landmark achievement for Resi and an important step in our funding diversification strategy.
“To attract 11 real money investors into our first public securitisation is an outstanding result and a strong endorsement of the quality of our loan book, our people and our long-term vision.”
[Related: YBR welcomes Bridgit to its lender panel]
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