PHH Mortgage will service all of the loans in the pool, for an annual fee of 0.20%. For its part, Velocity will act as special servicer on loans that become delinquent for more than 60 days or default.

Two series of notes, both of which feature highly diversified pools, will come to market simultaneously.

Payment certificates from as many as 14 Chilean electricity-generating entities will collateralize the notes, and benefit from a Chilean government guarantee.

But its operating income missed estimates with servicing income and gain-on-sale margins coming in lower than expected.

The agency's president, Alanna McCargo, called the nonbank liquidity issue "the biggest of our time," while speaking at the Bipartisan Policy Center Tuesday.

The collateral had a WA FICO score of 780. Classes A, B, and C notes had credit enhancement levels of 23.5%, 19.5%, and 16.1%, respectively.

Moody's said higher funding costs, a potential decline in bank capital and growing risk in the commercial real-estate industry prompted many of the downgrades.

Industrial equipment accounted for the plurality of the pool, with 22.8%; office equipment accounts for 21.6% and software claims 14.8%.

Product availability for July remained at levels last seen in 2013 as rates briefly broke above the 7% mark during the month, the Mortgage Bankers Association said.

The deal has the lowest concentration of leases with 37- to 48-month original terms, according to Fitch Ratings, at 34.6%.

The new technology expands the capabilities of automation used to obtain digital transcript information from self-employed borrowers.

Much of the industry is slimming down, with some banks calling it quits on riskier sectors and selling loans they no longer want. The trend is particularly prominent at regional banks that are preparing to comply with new capital rules.