On August 27, 2025, Lakeview Residential Mortgage Funding LP launched an innovative residential mortgage-backed securitization (RMBS) program sponsored by Vault Capital Inc., completing its inaugural private placement transaction by way of offering memorandum for a bond issuance exceeding $200 million.
The transaction comprised Lakeview Residential Mortgage Funding LP LRMBS 2025-1 Class A Notes, rated A(high)(sf) by Morningstar DBRS, along with Class B Notes and Class Z Notes, which are retained by the sponsor, Vault. The offering was nearly three times oversubscribed, attracting participation from some of Canada’s largest institutional investors. This milestone marks the first time a private mortgage lending company in Canada has accessed this segment of the RMBS market.
Fasken advised Bank of America as lead placement agent and arranger, and the deal syndicate with a team led by Elana Hahn and included Christopher Steeves, Hayley Larkin, Madeleine Blouin, Nicholas McFarlane and Safa Darwich (Paralegal).
Jurisdiction
- Ontario
