Allison Bisbey

The $340.5 million transaction, GoodGreen 2018-1, is backed by a mix of residential and commercial PACE assets in 42 California counties and 13 Florida counties.

The $185 million transaction features a higher exposure to borrowers entering bankruptcy than the sponsor's 2016 deal; it's also more seasoned, since it recycles 2014 collateral.

The 860 loans backing its latest transaction, the $258.4 million Verus Securitization Trust, 2018-INV1, are all "business purpose investor loans,” according to S&P.

A large portion of the collateral for the $1.06 billion IH-2018-SFR1 is being rolled over from two transactions originally issued in 2015.

A class action filed last week alleges that Renovate America and Renew Financial failed to provide consumer protections promised to L.A. County, that this constitutes elder abuse, and the county is complicit.

HELOCs make up just 2.9% of the $281 million pool of collateral; 81.8% of the HELOC borrowers are currently ineligible to make draws; another 18.2% are permanently frozen.

It is backed by $499.8 million of trust preferred securities and subordinated debt issued by 63 banks and $380 million of TruPS and surplus notes issued by four insurance companies.

The higher rating from Kroll Bond Rating Agency came at a steep price: The senior tranche of notes to be issued benefits from 78% credit enhancement; Dividend's prior deal was rated single-A.

Proceeds from the $75 million issuance, the 10th from a master trust created in 2009, will fund new loans and repay the remaining outstanding notes issued from a 2008 master trust.

Nearly 86% of the loans have been modified; by comparison, a higher percentage of loans backing Citi's previous deal, 97.2%, were modified.