Notably, this structure is the first Ginnie Mae Mortgage Servicing Right (MSR) - backed term note issuance to include a subordinate class, which provides Caliber access to additional financing for MSR portfolio growth not previously available within the industry. The issued notes are floating rate and carry the lowest cost of funds to date for Ginnie Mae MSR - backed term notes.

The secured term notes will mature on May 25, 2023, and are collateralized by Ginnie Mae MSRs and excess servicing spread (ESS) evidenced by participation certificates, which are sold to the Trust by Caliber under a master repurchase agreement. This funding is the final step in Caliber's balance sheet restructuring. As a result of this process, Caliber now partners with multiple partners and facilities that expand the Company's MSR financing capacity by over 30 percent, lower MSR secured interest expense by over 300bps and extend duration by an average of three years.

"We appreciate the support from our capital providers and Ginnie Mae on this issuance," said Caliber CEO Sanjiv Das. "Caliber remains focused on responsibly expanding its Retail and Servicing platforms and driving innovative industry thought leadership. This transaction will allow us to continue to address the financing needs of homeowners across the country and demonstrates that there is robust investor appetite for financing MSRs serviced by Caliber Home Loans. Securing financing from a broad group of capital market investors provides us with term capital that will be used for immediate growth in loan originations in addition to reducing costs relative to our existing financing."