Donna M. Mitchell

The deal has a prefunding period through July, when more non-prime collateral can be purchased and added to the pool.

The funding round will help Button Finance, which leverages AI to underwrite home equity financing, expand its range of products to more borrowers.

BAAT Auto Trust series 2025-1, has a super-prime underlying borrower base, as FICO scores exceeding 800 made up 55.2% of the pool.

When it closed in February 2024, Toorak 2024-RRTL1 became the first rated RTL completed. Managers increased the capital raise to $240 million, from the initial $192 million.

Zayo's second securitization overall has several cash-trap and sweep triggers, including a 50% cash trap period that keep cash flowing to the notes.

The WA original term is about 68 months for all three pools. That is shorter than the term on the previous series, but within the range of terms on recent deals.

SunStrong Issuer also includes a sequential amortization trigger. Should the cumulative default level exceed the applicable trigger level.

SLAM has debt service coverage ratio (DSCR) triggers and a utilization test in the structure to help maintain cashflow and support credit in the notes.

A range of investment residential properties, including single-family homes, condominiums and multi-unit properties, will secure the debt.

The deal can be upsized to $2 billion, and the transaction will repay principal sequentially, growing non-declining enhancement as the notes amortize.

The dental and medical spa industries accounted for 60.1% and 26.0% of the deal's balance.

Residential, business and carrier customers represented 37.2%, 32.8% and 30.0%, respectively, of revenue from the last 12 months.

Oxford requires that 91% of the supporting loans have interest payments on a floating rate index or a floating rate option, but new loans face requirements to mitigate the risks of yield shortfalls.

Agora started out by providing independent and franchise dealerships with an online platform to manage their retail installment sale contracts (RISCs).

The transaction's senior, interest-only tranches, which are also initially exchangeable, pay a coupon of 0.50%.

The transaction will issue about 10 classes of notes, composed of one term bond and nine serial bonds.

Indexed to the one-month, I-Curve, yields are expected to range from 4.60% on the A1+ rated, A1 notes to 6.22% on the BBB-rated, class D notes.

The rating agency said 82 of the 114 loans, representing 76.4% of the portfolio's value, have final balloon payments.

Southern Auto Finance uses a heavily automated origination process that puts applicants through several rounds of vetting, including income and employment verification.

At any point during the revolving period, the issuer might upsize the current notes to a $500 million limit.