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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A vast majority of borrowers have either graduated from one of MPOWER's eligible graduate degree programs in science, technology, engineering and math (STEM) or business.
April 25 -
EFF 2025-2 will allocate revenue collections to the notes on a pro rata basis between the class A notes and the seller's interest after overcollateralization reaches its target.
April 24 -
The sponsor launches the deal after a period of increased originations in marine and recreational vehicle loans, will secure the notes.
April 23 -
The notes benefit from various levels of debt service coverage ratio (DSCR) triggers that help support repayment.
April 22 -
The structure includes credit enhancement from overcollateralization representing 16.4% of the pool balance.
April 16 -
Principal payments, will be repaid through three periods of a full turbo period, a non-turbo period and another full turbo period before an amortization trigger event.
April 15 -
Cross 2025-H3 has moderate leverage, according to KBRA, with a weighted average (WA) loan-to-value ratio of 72.3%, and a debt-to-income ratio of 33.5%.
April 14 -
The notes will get credit enhancement from balances on the subordinate bonds, which are permitted to amortize.
April 11 -
When the deal closes, NALP Asset Backed Securities will deposit $32.1 million in the prefunding account to purchase additional loans.
April 10 -
Moderate leverage is one example of cleaner credit, as the current collateral pool's original loan-to-value (LTV) ratio is 69.1%, down from 71.7% on the 2024-NQM1 series.
April 10
