Onslow Bay is a Long-Term Residential Mortgage Investor with Access to Permanent Capital

Onslow Bay

Onslow Bay Financial LLC (“Onslow Bay”) is a mortgage aggregator that buys closed, funded residential whole loans directly from correspondents. Onslow Bay is a wholly owned subsidiary of Annaly Capital Management, Inc. and has been active in acquiring residential whole loans since 2016.

>$5.0bn

Non-Agency Securitizations
Issued Since 2018

13

Securitizations Completed Under the Onslow Bay Shelf (“OBX”)

>$6.5bn

Whole Loan Acquisitions
since 2016

Onslow Bay Commitment

During the market volatility caused by the Covid-19 pandemic, Onslow Bay honored outstanding whole loan commitments and supported our origination partners by continuing to provide liquidity.  Onslow Bay has continued to be a programmatic whole loan buyer and issuer post-Covid

 

Onslow Bay Programs

Expanded Prime Plus

  • Opportunity to qualify through full documentation (W2, tax returns, asset depletion, 1099), streamlined verification (1 year full documentation) or alternative documentation (Personal or Business Bank Statements, 12 Month Profit & Loss (PnL) and Written Verification of Employment (WVOE)
  • Product types: 5/6 ARM, 7/6 ARM, 30 Year Fixed, 40 Year Fixed
  • Minimum FICO of 660; Maximum LTVs of 90%
  • Owner occupied, investment properties and second homes available
  • Maximum DTI of 55%
  • Maximum loan sizes of $3 million
  • 4+ years housing event seasoning
  • Payment history: 0x30x12
  • Interest only products available

Sharp A+

  • Opportunity to qualify through full documentation (W2, tax returns, asset depletion, 1099), streamlined verification (1 year full documentation) or alternative documentation (Personal or Business Bank Statements, 12 Month Profit & Loss (PnL) and Written Verification of Employment (WVOE)
  • Product types: 5/6 ARM, 7/6 ARM, 30 Year Fixed, 40 Year Fixed
  • Minimum FICO of 620; Maximum LTVs of 85%
  • Owner occupied, investment properties and second homes available
  • Maximum DTI of 50%
  • Maximum loan sizes of $2.5 million
  • 3+ years housing event seasoning
  • Payment history: 1x30x12, 0x60x24
  • Interest only products available

Sharp A-

  • Opportunity to qualify through full documentation (W2, tax returns, 1099), streamlined verification (1 year full documentation) or alternative documentation (Personal or Business Bank Statements)
  • Product types: 5/6 ARM, 7/6 ARM, 30 Year Fixed
  • Minimum FICO of 620; Maximum LTVs of 80%
  • Owner occupied, investment properties and second homes available
  • Maximum DTI of 45%
  • Maximum loan sizes of $2.0 million
  • 2+ years housing event seasoning
  • Payment history: 1x30x12, 0x60x24

Foreign National Plus

  • Opportunity to qualify with full documentation, including foreign credit for investment properties or second homes. Opportunity for borrowers to qualify for investment properties through a DSCR underwrite
  • Product types: 5/6 ARM, 7/6 ARM, 30 Year Fixed
  • Maximum LTVs of 65%
  • Investment properties and second homes available
  • Maximum DTI of 45%
  • Maximum loan sizes of $1.0 million
  • 4+ years housing event seasoning
  • Payment history: 0x30x12

DSCR Plus

  • Qualify with the lower of the appraisal market rents or executed lease agreement
  • DSCR = Gross Rent/PITIA
  • Professional Investors Only (12 Months of Managing Income Producing Real Estate)
  • Product types: 5/6 ARM, 7/6 ARM, 30 Year Fixed, 40 Year Fixed
  • Minimum FICO of 660; Maximum LTV of 90%
  • Minimum DSCR of .75x
  • Maximum loan size $2.0mm
  • Borrowers can qualify with or without employment verification
  • 3+ years housing event seasoning
  • Interest only products available

 Onslow Bay believes in common-sense lending and is willing to consider exceptions to loans outside our guides with compensating factors.

 Announcements

October 24, 2020

Onslow Bay settled a $515mm expanded prime transaction, OBX 2020-EXP3. This deal represents Onslow Bay’s third expanded prime deal of 2020 (12th securitization since 2018; 13th securitization under the OBX shelf)

July 30, 2020

Onslow Bay settled a $489mm expanded prime transaction, OBX 2020-EXP2. This deal represents Onslow Bay’s second expanded prime deal of 2020 (11th securitization since 2018; 12th securitization under the OBX shelf)

February 28, 2020

Onslow Bay settled a $468mm expanded prime transaction, OBX 2020-EXP1. This deal represents Onslow Bay’s first expanded prime deal of 2020 (10th securitization since 2018; 11th securitization under the OBX shelf)

Onslow Bay Licenses

In addition to being a HUD approved Investing Mortgagee, Onslow Bay currently holds the requisite state mortgage finance approvals or exemptions to purchase and own performing residential whole loans (1st and 2nd lien) and/or servicing rights in all 50 states and the District of Columbia.

Contact Us

Onslow Bay Financial LLC

1211 Avenue of the Americas, Suite 4100
New York, NY 10036 US
Phone: 1-888-228-3861
ops@onslowbayfinancial.com

This site is not authorized by the New York State department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.

Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act.