Lew Ranieri's Shellpoint Files to Issue Nonagency MBS

Shellpoint Partners LLC Monday filed a shelf registration with the Securities and Exchange Commission to issue nonagency mortgage-backed securities.

The registration statement will permit the company to issue the securities through a newly formed depositor called Shellpoint Mortgage Acceptance LLC.

Shellpoint said it expects to securitize only prime-quality nonagency loans originated by New Penn Financial, rather than sourcing loans to securitize through bulk loan purchases from third-party originators.

The chairman of Shellpoint's board of directors is Lewis Ranieri, a securitization pioneer and chairman of Ranieri Partners LLC.

Ranieri Partners has interests in a variety of real estate-related platforms and is a part owner of Shellpoint.