While the three largest lenders now offer VantageScore, Bank of America Securities says two agency pulls boosts consumers scores, no matter which model.
Fitch Ratings, noting the reduction in Wells Fargo's balances and sale of non-agency servicing, said the bank no longer meets expectations at its old grade.
The deal will repay due principal on a pro rata basis if the class A credit enhancement is satisfied, no cumulative net loss trigger event has occurred, and no pool balance amortization event is in effect.
Agency activity dropped off by 4% in September while non-qualified mortgage issuance was down 18% in the third quarter versus the prior period, BTIG said.
The deal will sell the notes through five tranches of class A, B, C, D and E notes. Classes A and B have legal final maturity dates of Nov. 15, 2030 and July 15, 2032, respectively.
The economy added just 29,000 jobs in September, far below economists expectations, though the unemployment rate remained steady, indicating softening in the labor market.
