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The A1 tranche contains the bulk of the outstanding notes, $251.4 million, and is divided into the 1A and 1B sub-tranches, with enhancement of 37.0% on the A1A piece and 27.0% on the A1B.
October 24 -
If the average one-month conditional prepayment rate (CPR) over a six-month period is equal to or greater than 25%, then Brean ABS will deposit 50% of available funds into the Refunding Account.
October 23 -
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Karsten Giesecke and Michael Karol join Morriello to represent clients such as lenders and private equity funds in transactions including RMBS, CMBS, franchise loans and esoteric assets.
October 17 -
The deal involves a two-year revolving period, and during that time principal proceeds can be reinvested into newly originated collateral.
October 15 -
Rithm Capital, a real estate investment trust, is sponsoring the deal, in which property focused investor loans represent 32.60% of the collateral pool.
October 6 -
Almost all the mortgages were written through alternative income documentation, primarily for investment properties, and the entire pool benefits from third-party due diligence.
September 30 -
Among other credit boosting measures, the structure also prohibits any interest from being advanced on loans that are more than 90 days delinquent.
September 24 -
Some 63.8% of the assets in the pool are modified loans, and for 92.6% of those loans, the modifications happened more than two years ago.
September 17 -
The A1A notes benefit from credit enhancement levels that equal 30% of the note balance in that tranche.
September 12







