Founded in 2001, J.V.B. Financial Group, LLC (member FINRA, SIPC), an indirect majority-owned subsidiary of Cohen & Company, Inc. (COHN), specializes in securities financing and the sales and trading of fixed income securities. Our mission is to be the premier distribution platform to our customers, providing trusted advice, intelligent solutions, and superior execution. In 2010, JVB established its Mortgage Group to include a trading desk for “to-be-announced” or “TBA” securities to provide liquidity and hedging capability to middle-market mortgage originators hedge their mortgage pipelines. Today, JVB’s Mortgage Group offers a range of solutions for middle-market mortgage originators seeking to enhance mortgage pipeline execution and overall portfolio profitability. The Mortgage Group offers the following capital markets services to mortgage banking partners:
- TBA Trade Execution
- Assists clients by offering hedging capability via access to the TBA trading markets. The focus is manage and hedge the interest rate risk of originator clients mortgage pipelines
- Gestation Repo Financing for FHA (including MODS, Partial Claim, 203K, & onetime close), VA, USDA, Conventional loans, eNotes. This is available to both MBS and Cash Window mortgage issuers
- The JVB Gestation Repo program is a short-term repo product that Brings Capital Markets financing capability to mortgage originators by applying Agency MBS Multi-Pool market pricing, to the funding capability of the mortgage issuer, before the pool issuance or sale to an aggregator. Gestation Repo is a more cost-effective means of financing for the mortgage issuer community and meaningfully more scalable when compared to other mortgage pipeline funding strategies.
- Agency MBS Pool Trading for both fixed-rate and ARMS
- Provides liquidity and improved execution away from the government-sponsored-enterprises (“GSEs”) (i.e. Ginnie Mae, Freddie Mac, Fannie Mae). JVB currently has three dedicated Agency MBS cash traders within the Mortgage Group of which two traders are focused on Agency MBS fixed rate pools and one trader is focused on Agency MBS ARM trading.
- Agency MBS Pool Repo financing
- Provides cost effective leverage capability via the repo financing markets to Mortgage Banks, REITS, insurance companies, banks, and other institutions that are looking to improve their costs of funding, liquidity, and yield enhancement. JVB’s repo desk is comprised of seasoned repo operators that have run successful trading desks in primary broker dealers and large asset management firms.
Minimum Net Worth Requirement (if any)