Donna M. Mitchell

All the loans are interest-only during both their initial and extension terms, but third-party secured overnight financing rate (SOFR) cap agreements provide interest rate protection.

The investment will be sourced primarily from KKR's infrastructure and asset-based finance strategies.

Navient will follow a sequential repayment structure, and no subordinate classes will receive any principal until the most senior outstanding class is paid in full.

Aspire will raise $468.8 million from a pool of 917 residential mortgages, which are primarily fixed-rate.

The transaction structure includes an interest reserve account on the senior notes, tranche 2026-A1 VFN.

Although the follow-up securitization also issued three classes of notes, the deal amount is also much smaller than the first deal, with raised $217.2 million.

The deal will bring Kiavi's assets onto Figure's blockchain environment, adding $7 billion in annual volume, and more than $100 million of monthly cash flow onto its blockchain-native warehouse marketplace, Democratized Prime.

The deal also includes a series of exchangeable notes that will pay variable rates.

The deal includes recently introduced senior first class flow (A-1FCF) and last cash flow (A-1LCF) tranches, which benefit from credit enhancement levels of 24.70%.

Canyon ABF Partners will provide capital to specialty lenders and regional banks and be a rapid acquisition and structuring vehicle for primary and secondary loans on a range of assets.

Self-employed borrowers represent just 23.1% of the pool, and liquid reserves were $858,428 compared with 21.9% and $1 million.

This series of CarMax Select Receivables notes is offering 8.42% in excess spread, a reduction from 9.85% on the CMXS 2026-A notes.

The senior notes will repay investors pro rata, and the mezzanine and subordinate notes will repay sequentially.

The deal includes a three-year revolving period when collections can be used to buy new collateral if it meets eligibility and reinvestment criteria.

A delinquency test requires that excess cash pay down the notes sequentially if the aggregate delinquent loans represent more than 5.0% of the portfolio balance's average loan balance.

The collateral pool includes more than 1.1 million passings across 10 states, with Georgia accounting for the largest percentage (31%).

Second homes account for 10.1% of the underlying collateral pool, the highest ratio seen in pools all year.

Hansen will oversee all the firm's finance and operations.

There is an optional redemption feature, which allows certificate holders to redeem the notes on any day on or after the fifth business day before the monthly payment date in July 2028.

The capital structure includes first cash flow and last cash flow notes among the senior classes, and expected coupons include 5.64% on the A1A, A1B, A1FCF, A1LCF and A1 notes.