Velocity Commercial Capital (VCC) is in the market Velocity Commercial Capital Loan Trust 2011-1. The single-tranched, $62.2 million transaction, which is managed by UBS, is a collateralized by small balance commercial loans sponsored by VCC.
According to a Moody's Investors Service presale report, the loans are backed by a mix of commercial, mixed use and multi-family properties that are both owner occupied and investor owned.
Credit support on the sequential structure is a reserve account, excess spread, 18.5% of overcollateralization at closing, and a target overcollateralization of 20.5%, Moody's reported in the presale.
The servicer on the transaction is Situs Asset Management and the trustee is U.S. Bank National Association.