MBS

The A-1, A-2 and A-3 notes will benefit from credit enhancement levels of 38.6%, 30.1% and 19.3%, respectively. The mezzanine class benefits from 13.3%.

The deal's higher subordination floor structure conveys protection to the senior classes from losses during the life of the deal, but also presents so-called tail risk to the subordinate classes.

Consumer ABS adapts to an environment where total U.S. household debt reaches a record high of $17.06 trillion, while observers say credit performances could reach pre-pandemic levels by 2024.

A vast majority of the pool, 92.02%, was underwritten to the properties' actual or estimated rental incomes, and not the mortgagors' incomes.

The case stems from a lawsuit filed by the US Department of Justice against UBS in relation to legacy residential mortgage-backed securities from 2006 and 2007 and related to the issuance, underwriting and sale of the securities.

The collateral pool is comprised of a mix of mortgage loans, from 30-year, fixed-rate, fully amortizing loans (94.6%) to 40-year, fixed-rate loans with an initial interest-only term (0.03%).

Prime Minister Justin Trudeau's government is considering winding down the Canada Mortgage Bond program in a bid to reduce borrowing costs.

A vast majority of the pool, 86.35%, consists of primary homes. Investment properties and secondary homes, meanwhile, account for 11.29% and 2.36% of the collateral.

Newman will develop and implement the company's asset capital strategy, and lead a team focused on Hometap's optimization, structuring, pricing and go-to-market methods for various investor segments.

The notes have a coupon of 7.1%, a FICO score of 728 an original cumulative loan-to-value ratio of 66.9%, and an issuer debt service coverage ratio of 1.26%.