MBS

Fitch Ratings views home price values in the non-prime mortgage pool as being 11.3% above a long-term sustainable level.

Fitch Ratings views home price values in the non-prime mortgage pool as being 11.1% above a long-term sustainable level.

The trust's sixth issue of the year is backed by higher-income borrowers.

The collateral is a single loan secured by first-priority mortgages in a pool of 2,070 single-family homes.

Home price appreciation and favorable economic factors have led to consistent loan performance, but prepayments are increasing with an uptick in housing turnover, according to Morningstar DBRS.

Pricing guidance on the deal puts yields on the AAA notes at 5.9% and they range to 9.1% on the B- notes, and all of the certificates are priced over the three-month interpolated yield curve.

Stakeholders are watching carefully as the 2023 crisis and a capital proposal increase banker wariness of mortgage assets, speakers at Invisso's MBS Forum said.

Subordination provides credit enhancement to the notes, as well as deposits in the reserve and redemption accounts.

The capital structure features initial exchangeable notes among the class A, mezzanine and B1 notes. The super senior and senior support tranches will repay noteholders on a pro-rata basis.

Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.