Donna M. Mitchell is a financial journalist based in the New York metro area with expertise covering structured finance, commercial real estate, and wealth management. Her work has appeared in Forbes, Next Avenue, Financial Planning and National Real Estate Investor.
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The AOMT 2021-8 waterfall will distribute principal to A-1 through A-3 certificates at all times, and notes are taking a Fitch haircut amid inflated home values.
December 14 -
Founded in the wake of the global financial crisis, KBRA has issued more than 51,000 ratings representing almost $3 trillion in rated issuance since 2010.
December 13 -
Credit enhancement includes subordination, shored up by excess spread generated from excess spread between the cash flow on the collateral and the certificates.
December 10 -
Velocity Commercial Capital, 2021-4 uses subordination and excess spread that will cover both current and cumulative realized losses.
December 9 -
The pool includes a high concentration of loans originated through alternative underwriting, and on investment properties. Just 10.3% of the pool received COVID forbearance.
December 8 -
All of the loans are non-prime loans, and this is the first transaction that BREDS will sponsor using the BINOM shelf.
December 3 -
The entire collateral pool is made up of conforming, high-balance mortgage loans underwritten using an automated system designated by Fannie Mae or Freddie Mac.
December 3 -
The collateral pools consists of 578 loans, and the trust uses a senior-subordinate, shifting-interest structure that helps maintain a longer subordination period.
November 29 -
The deal also provides a sequential principal distribution to all of the certificates at all times, unlike recent non-prime securitizations.
November 23 -
Benchmark will issue 21 classes of certificates, with 13 entitled to principal and interest payments. Six classes will receive interest only.
October 28