Add Welk Resort Group to the list of timeshare operators buying bad loans out of securitization trusts.

The company, which was founded by the late band leader and television celebrity Lawrence Welk, is returning to the securitization market after a two-year hiatus. Kroll Bond Rating Agency’s presale report for the new deal, Welk Resorts 2017-A, devotes considerable space to the performance of the previous two transactions, which to date have experience no defaults – but only because the sponsor has repurchased bad loans and substituted new ones.

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