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Total delinquencies as a percentage of John Deere's managed portfolio was 3.06%, an increase since 2022. That aligns with the decline in corn and soy prices in the same period.
March 3
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There is also a trigger embedded in the deal, attached to cumulative net losses that would set off a full turbo payment.
February 28
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Servicers—Citadel, NewRez and Selene Finance—will not advance any delinquent principal and interest. Eventually, that should reduce loss severities to the deal.
February 28
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Investment properties are the primary properties backing the collateral pool, at 80.3%, while second homes account for 19.7% of the pool.
February 27
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Amortization will start after the deal's two-year revolving period, when the trust will deposit revenue including collections and upgrades into the acquisition account.
February 26
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Affirm grade A loans account for 34.8% of the pool and have historically produced the lowest defaults in the sponsor's managed portfolios.
February 26
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Tricon's pool had 49 vacant properties, which translated to a 3.4% vacancy rate in the pool, lower than the average 6.0% in KBRA's comparison set of 24 deals.
February 25
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Small-balance commercial mortgages, SBA 504 and investor loans, all first-lien, make up the collateral pool.
February 24
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The current pool has smaller exposures to the construction and turf sectors compared to the 2024-2 series, which have seen higher loss rates than the agriculture sector.
February 21
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Lenders and developers are now working their contacts in Washington to try to protect Ginnie Mae.
February 21
