KBRA Ratings

KBRA sets the standard for assessing risk by offering accurate and transparent ratings. As an industry-leading servicer, Vervent participates in many rated deals in a variety of roles across our portfolio of services. Please see below for a selection of our recently rated deals.

 

Tricolor Auto Securitization Trust 2022-1

Vervent's Role

Backup Servicer

$212 Million

Asset Backed Securities

“TAST 2022-1 represents the third rated ABS securitization for Tricolor Auto Acceptance, LLC (“Tricolor” or the “Company”). Previously, the Company issued rated ABS securitizations in July 2021 and November 2018 as well as five unrated securitizations from 2013-2020. TAST 2022-1 represents the Company’s first ABS aligned with the 2021 Social Bond Principles administered by the International Capital Market Association (“ICMA”), as the Issuer intends to utilize the proceeds of the issuance for an eligible social project that provides or promotes access to essential services and/or socioeconomic advancement and empowerment.” – KBRA

MMAF Equipment Finance LLC 2022-A Asset Backed Notes

Vervent's Role

Backup Servicer

$851 Million

Asset Backed Securities

“MMAF 2022-A represents the 17th equipment ABS sponsored by MassMutual Asset Finance LLC (“MMAF” or the “Company”). MMAF is a wholly-owned subsidiary of Massachusetts Mutual Life Insurance Company (“MassMutual”) and has an operating history dating back to 2003. The MMAF 2022-A transaction is secured by a portfolio of equipment lease and loan contracts, together with interests in the related equipment and other collateral… “  – MMAF 2022-A will issue four classes of notes (“Notes”). The Notes benefit from credit
enhancement in the form of overcollateralization, excess spread, and a reserve account.” KBRA

GoodLeap Sustainable Home Solutions Trust 2022-2

Vervent's Role

Backup Servicer

$359 Million

Asset Backed Securities

“GOOD 2022-2 is a term ABS securitization collateralized by Sustainable Home Improvement Loans originated by GoodLeap. After origination, GoodLeap sold the loans to seven “Transferring Entities”, noted in the below Transaction Parties table, pursuant to individual purchase agreements. Lime Residential, Ltd. (the “Sponsor”) will acquire the Sustainable Home Improvement Loans from the Transferring Entities and sell them to Credit Suisse Finance LLC (the “Depositor”) on the closing date. The Issuer will issue three classes of Notes in an aggregate principal amount of $358.973 million.” – KBRA

Lendbuzz Securitization Trust 2022-1

Vervent's Role

Backup Servicer

$198 Million

Asset Backed Securities

“LBZZ 2022-1 issued two classes of notes totaling $198.064 million collateralized by a pool of retail automobile contracts made to obligors and secured by new and used automobiles, light duty trucks, vans, minivans, and sport utility vehicles. Credit enhancement on the notes is comprised of overcollateralization (”OC”), subordination of junior note classes, a cash reserve account, and excess spread. “  – KBRA

Carvana Auto Receivables Trust 2022-P1

Vervent's Role

Backup Servicer

$1.05 Billion

Asset Backed Securities

“This transaction, CRVNA 2022-P1, represents the second term ABS securitization for the Company in 2022, the sixth under its prime shelf, and the sixteenth overall. CRVNA 2022-P1 issued five classes of notes (eight tranches) totaling approximately $1.05 billion. The transaction is collateralized by approximately $1.04 billion of automobile loans to primarily prime obligors as defined by the Company (obligors with Carvana Deal Scores ranging from 50 to 100).”  – KBRA

Veros Auto Receivables Trust 2022-1

Vervent's Role

Backup Servicer

$184 Million

Asset Backed Securities

“This transaction represents Veros Credit LLC (“Veros” or the “Company”) first term ABS securitization of 2022 and fifth overall. Veros is a privately-owned indirect auto finance company based in California. The Company was founded in 1998 as Credit One Corporation and rebranded as Veros Credit LLC in 2010. Veros is majority owned by the Bozorgi family. Based on financials provided by the Company, Veros has been profitable since inception. The Company has three liquidity facilities from three financial institutions to fund new loan originations. The facilities have combined commitments of $355 million. ”  – KBRA

Mosaic Solar Loan Trust 2022-1

Vervent's Role

Backup Servicer

$382 Million

Asset Backed Securities

“This transaction, Mosaic Solar Loan Trust 2022-1 (“Mosaic 2022-1”), represents the twelfth rated term ABS securitization collateralized by secured consumer loans originated by the Company. Mosaic 2022-1 issued four classes of notes in an aggregate principal amount of $382.73 million. The notes are backed by a pool of mostly prime quality residential solar loans originated to finance solar energy systems, including, without limitation, solar panels or modules, inverters, electricity storage, charging/monitoring equipment (including batteries and automobile charging equipment), prepaid operations and maintenance agreements and related landscaping, roofing or re-roofing, wiring, electrical system upgrades and any additional equipment or services related to installation (“Solar Energy Systems”).”  – KBRA

LP PassThrough Trust, Series 2022-ST3

Vervent's Role

Backup Servicer

$43 Million

Asset Backed Securities

“This transaction represents the ninth KBRA-rated securitization collateralized by unsecured consumer installment loans originated through the online platform operated by LendingPoint LLC (“LendingPoint” or the “Company”) and the second series issued from the LendingPoint Pass-Through Trust (“LPPT” or “Master Trust”) program. LPPT 2022-ST2 issued one class of notes totaling $43.627 million.”  – KBRA

VFI ABS 2022-1, LLC

Vervent's Role

Backup Servicer

$170 Million

Asset Backed Securities

“Varilease Finance, Inc. (“VFI”, the “Company”, the “Originator” or the “Servicer”), founded in 2001 and headquartered in Salt Lake City, Utah, is an independent equipment finance company focused on leasing industrial and commercial equipment to upper- and middle-market businesses. VFI 2022-1 represents the Company’s first equipment ABS transaction.”  – KBRA

Carvana Auto Receivables Trust 2022-N1

Vervent's Role

Backup Servicer

$383 Million

Asset Backed Securities

“This transaction, CRVNA 2022-N1, represents the first term ABS securitization for the Company in 2022, the sixth under its nonprime shelf, and the fifteenth overall. CRVNA 2022-N1 issued six classes (seven tranches) of notes totaling $383.13 million. The transaction is collateralized by approximately $375 million of automobile loans to primarily non-prime obligors as defined by the Company (obligors with Carvana Deal Scores ranging from 0 to 49).”  – KBRA

GoodLeap Sustainable Home Solutions Trust 2022-1

Vervent's Role

Backup Servicer

$305 Million

Asset Backed Securities

“GOOD 2022-1 is a term ABS securitization collateralized by Sustainable Home Improvement Loans originated by GoodLeap. After origination, GoodLeap sold the loans to eight “Transferring Entities”, noted in the below Transaction Parties table, pursuant to individual purchase agreements. Goldman Sachs Lending Partners, LLC (the “Sponsor”) will acquire the Sustainable Home Improvement Loans from the Transferring Entities on the closing date. The Issuer will issue three classes of Notes in an aggregate principal amount of $305.097 million.”  – KBRA

LP PassThrough Trust, Series 2022-ST2

Vervent's Role

Backup Servicer

$43 Million

Asset Backed Securities

“This transaction represents the ninth KBRA-rated securitization collateralized by unsecured consumer installment loans originated through the online platform operated by LendingPoint LLC (“LendingPoint” or the “Company”) and the second series issued from the LendingPoint Pass-Through Trust (“LPPT” or “Master Trust”) program. LPPT 2022-ST2 issued one class of notes totaling $43.627 million. ”  – KBRA

BHG Securitization Trust 2022-A

Vervent's Role

Backup Servicer

$500 Million

Asset Backed Securities

“BHG 2022-A represents the fourth term ABS securitization for the Company. The loans in the transaction were originated by BHG, Pinnacle Bank, or County Bank, a Delaware state-chartered bank, pursuant to the respective originator’s underwriting criteria. Commercial Loans are originated by BHG or Pinnacle Bank, while Consumer Loans are originated by Pinnacle Bank or County Bank.  – KBRA

Pagaya AI Debt Trust 2022-1

Vervent's Role

Backup Servicer

$1.08 Billion

Asset Backed Securities

“PAID 2022-1 issued three classes of notes totaling $1.08 billion. The proceeds from the sale of the notes and collections will be used to fund: (i) the prefunding account; (ii) the reserve account; and (iii) pay certain transaction expenses. PAID 2022-1 is a fully prefunded transaction where there is no collateral funded at closing and the notes are initially supported by amounts deposited in the prefunding account.”  – KBRA

Theorem Funding Trust 2022-1

Vervent's Role

Backup Servicer

$292 Million

Asset Backed Securities

“THRM 2022-1 issued three classes of notes totaling approximately $292.61 million. The proceeds from the sale of the notes will be used to acquire the loans, fund the prefunding and reserve accounts as well as pay certain fees and expenses associated with the transaction. The transaction contains approximately $266 million of receivables as of the December 4, 2021 statistical cutoff date (“Statistical Cutoff Date”) out of an expected collateral balance of approximately $366 million after completion of the prefunding period.  – KBRA

Kapitus Series 2022-1

Vervent's Role

Backup Servicer

$200 Million

Asset Backed Securities

“This transaction (“Kapitus 2022-1”) is the third securitization for the Company. All of the Company’s securitizations have been rated by KBRA. Kapitus Asset Securitization LLC … will issue three classes of Series 2022-1 Notes, Class A, Class B, and Class C Notes … totaling $200 million.”  – KBRA

Foursight Capital Automobile Receivables Trust 2022-1

Vervent's Role

Backup Servicer

$293 Million

Asset Backed Securities

“FCRT 2022-1 represents the eleventh rated term ABS securitization for Foursight Capital LLC … This transaction will be collateralized by approximately $293.7 million of mostly near-prime automobile loans secured by new and used vehicles.  – KBRA

LendingPoint 2022-A Asset Securitization Trust

Vervent's Role

Backup Servicer

$400 Million

Asset Backed Securities

“This transaction represents the eighth KBRA-rated securitization collateralized by non-prime unsecured consumer loans originated through the online platform operated by LendingPoint LLC … LP 2022-A issued five classes of notes totaling $400.0 million. The transaction includes a three-month prefunding period which could represent up to 40% of the total receivables balance. ”  – KBRA

CPC Asset Securitization I, LLC, Series 2021-1

Vervent's Role

Backup Servicer

$105 Million

Asset Backed Securities

“CPC 2021-1 represents the Company’s inaugural ABS securitization. CPC 2021-1 is collateralized by small business loans (“Business Loans”) and business advance agreements (“Business Advances”) (collectively the “Receivables”) across a diverse set of industries including services, transportation, manufacturing and retail industries. The Business Loans have a fixed rate, fixed payment amount, and original term as well as an initial amount and repayment amount”  – KBRA

LP Pass Through Trust, Series 2022-ST1

Vervent's Role

Backup Servicer

$52 Million

Asset Backed Securities

“This transaction represents the seventh KBRA-rated securitization collateralized by non-prime unsecured consumer installment loans originated through the online platform operated by LendingPoint LLC …and the first series issued from the LendingPoint Pass-Through Trust (“LPPT” or “Master Trust”) program. LPPT 2022-ST1 issued one class of notes totaling $52.271 million. ”  – KBRA

Carvana Auto Receivables Trust 2021-N4

Vervent's Role

Backup Servicer

$481 Million

Asset Backed Securities

“This transaction, CRVNA 2021-N4, represents the seventh term ABS securitization for the Company in 2021, the fifth under its non-prime shelf, and the thirteenth overall. CRVNA 2021-N4 issued six classes (seven tranches) of notes totaling $481.16 million. The transaction is collateralized by approximately $460 million of automobile loans to primarily non-prime obligors as defined by the Company (obligors with Carvana Deal Scores ranging from 0 to 49).”  – KBRA

Pagaya AI Debt Trust 2021-5

Vervent's Role

Backup Servicer

$450 Million

Asset Backed Securities

“This transaction is the fifth publicly rated securitization for Pagaya US Holding Company LLC (“Pagaya” or the “Company”), formerly known as Pagaya Investments US LLC, and fourth in 2021. Pagaya is a 100% owned subsidiary of Pagaya Technologies Ltd. (“Pagaya Technologies”), which is an Israeli corporation. The Company is a financial technology company in the lending marketplace that uses machine learning, big data analytics, and sophisticated AIdriven credit and analysis technology. Overall, the Company has completed 19 securitizations for over $6.5 billion since 2018 with 14 consisting of unsecured consumer loans.”  – KBRA

Carvana Auto Receivables Trust 2021-P4

Vervent's Role

Backup Servicer

$1.1 Billion

Asset Backed Securities

“This transaction, CRVNA 2021-P4, represents the eighth term ABS securitization for the Company in 2021, the fifth under its prime shelf, and the fourteenth overall. CRVNA 2021-P4 issued five classes of notes (eight tranches) totaling approximately $1.1 billion. The transaction is collateralized by approximately $1.1 billion of automobile loans to primarily prime obligors as defined by the Company (obligors with Carvana Deal Scores ranging from 50 to 100)”  – KBRA

Service Experts Issuer 2021-1 LLC

Vervent's Role

Backup Servicer

$337 Million

Asset Backed Securities

“DFC is the originator of 100% of the automobile loans included in LADAR 2021-1, all of which are to U.S. borrowers. DFC offers full credit spectrum automobile financing exclusively to Lithia customers through Lithia’s dealership network and e-commerce business channels; financing is not available outside of the Lithia network…LADAR 2021-1 issued four classes of notes totaling $344.39 million. Credit enhancement on the notes is comprised of overcollateralization (”OC”), subordination of junior note classes, a cash reserve account, and excess spread.”  – KBRA

Continental Finance Credit Card ABS Master Trust

Vervent's Role

Backup Servicer

$175 Million

Asset Backed Securities

“CFCCMT Series 2021-A, represents the Company’s fifth term ABS and fourth master trust issuance. The Notes are collateralized and repaid by a portfolio of revolving general-purpose credit card accounts. CFCCMT Series 2021-A will include a three-year revolving period where no principal payments will be made on the notes prior to the Scheduled Amortization Date unless an Early Amortization Event occurs. Receivables in CFCCMT Series 2021-A are originated by The Bank of Missouri … and Celtic Bank Corporation … ”  – KBRA

Service Experts Issuer 2021-1 LLC

Vervent's Role

Backup Servicer

$337 Million

Asset Backed Securities

“DFC is the originator of 100% of the automobile loans included in LADAR 2021-1, all of which are to U.S. borrowers. DFC offers full credit spectrum automobile financing exclusively to Lithia customers through Lithia’s dealership network and e-commerce business channels; financing is not available outside of the Lithia network…LADAR 2021-1 issued four classes of notes totaling $344.39 million. Credit enhancement on the notes is comprised of overcollateralization (”OC”), subordination of junior note classes, a cash reserve account, and excess spread.”  – KBRA

Lendbuzz Securitization Trust 2021-1

Vervent's Role

Backup Servicer

$204 Million

Asset Backed Securities

“LBZZ 2021-1 issued two classes of notes totaling $204.34 million collateralized by a pool of retail automobile contracts made to obligors and secured by new and used automobiles, light duty trucks, and vans. Credit enhancement on the notes is comprised of overcollateralization (”OC”), subordination of junior note classes, a cash reserve account, and excess spread. ”  – KBRA

LAD Auto Receivables Trust 2021-1

Vervent's Role

Backup Servicer

$344 Million

Asset Backed Securities

“Driveway Finance Corporation (“DFC” or the “Company”) is the originator of 100% of the automobile loans included in LADAR 2021-1, all of which are to U.S. borrowers. DFC offers full credit spectrum automobile financing exclusively to Lithia customers through Lithia’s dealership network and e-commerce business channels; financing is not available outside of the Lithia network…LADAR 2021-1 issued four classes of notes totaling $344.39 million. Credit enhancement on the notes is comprised of overcollateralization (”OC”), subordination of junior note classes, a cash reserve account, and excess spread.”  – KBRA

LendingPoint 2021-B Asset Securitization Trust

Vervent's Role

Backup Servicer

$400 Million

Asset Backed Securities

“This transaction represents LendingPoint LLC’s sixth KBRA-rated securitization of non-prime unsecured consumer installment loans, and second in 2021. LP 2021-B issued four classes of notes totaling $400.0 million. The transaction includes a three-month prefunding period which could represent up to 40% of the total receivables balance. Proceeds from the sale of the notes will be used to fund the reserve account, to repay existing debt and to fund the excess funding account. The latter account will be used to purchase additional loans during the prefunding period.”  – KBRA

AVID 2021-1

Vervent's Role

Backup Servicer

$140 Million

Asset Backed Securities

“This transaction represents the first term ABS securitization in 2021 and third overall for Avid Acceptance, LLC (“Avid” or the “Company”). AVID 2021-1 will issue six classes of notes totaling $140.009 million. The notes are backed by a pool of retail automobile contracts made to subprime obligors, the majority of which have filed for bankruptcy (Chapter 7 or 13) and have decided to purchase a vehicle prior to the closing or discharge of their bankruptcy case. ”  – KBRA

Aqua Finance Trust 2021

Vervent's Role

Backup Servicer

$795.5 Million

Asset Backed Securities

“This securitization represents the fourth public term securitization for Aqua Finance, Inc. … and its affiliates. The transaction is collateralized by a pool of retail installment sale contracts and agreements… used by consumers to purchase water treatment equipment, make home improvements, and acquire certain recreational products such as marine and recreational vehicles …”  – KBRA

LendingPoint 2021-B

Vervent's Role

Backup Servicer

$400 Million

Asset Backed Securities

“This transaction represents LendingPoint LLC’s (“LendingPoint” or the “Company”) sixth KBRA-rated securitization of non-prime unsecured consumer installment loans, and second in 2021. LP 2021-B issued four classes of notes totaling $400.0 million. The transaction includes a three-month prefunding period which could represent up to 40% of the total receivables balance.” – KBRA

Mosaic 2021-3

Vervent's Role

Backup Servicer

$220.95 Million

Asset Backed Securities

“Mosaic 2021-3 issued four classes of notes in an aggregate principal amount of $220.95 million. The notes are backed by a pool of mostly prime quality residential solar loans originated to finance solar energy systems, including, without limitation, solar panels or modules, inverters, electricity storage, charging/monitoring equipment (including batteries and automobile charging equipment), prepaid operations and maintenance agreements and related landscaping, roofing or re-roofing, wiring, electrical system upgrades and any additional equipment or services related to installation…”  – KBRA

CRVNA 2021-P3

Vervent's Role

Backup Servicer

$1.1 Billion

Asset Backed Securities

“CRVNA 2021-P3, represents the sixth term ABS securitization for the Company in 2021, the fourth under its prime shelf, and the twelfth overall. CRVNA 2021-P3 issued eight classes of notes totaling approximately $1.1 billion. The transaction is collateralized by approximately $1.035 billion of automobile loans to primarily prime obligors as defined by the Company (obligors with Carvana Deal Scores ranging from 50 to 100).” – KBRA

Pagaya AI Debt Selection Trust 2021-3

Vervent's Role

Backup Servicer

$675 Million

Asset Backed Securities

“This transaction is the fourth publicly rated securitization for Pagaya Investments US LLC …and third in 2021…PAID 2021-3 issued three classes of notes totaling $675.0 million. The proceeds from the sale of the notes and collections will be used to fund: (i) the prefunding account; (ii) the reserve account; and (iii) pay certain transaction expenses.”  – KBRA

BHG 2021-B

Vervent's Role

Backup Servicer

$400 Million

Asset Backed Securities

“BHG 2021-B represents the third term ABS securitization for the Company. The loans in the transaction were originated by BHG, Pinnacle Bank, or County Bank, a Delaware state-chartered bank, pursuant to the respective originator’s underwriting criteria. Commercial Loans are originated by BHG or Pinnacle Bank, while Consumer Loans are originated by Pinnacle Bank or County Bank. As of the July 31, 2021 statistical cutoff date (“Statistical Cutoff Date”), 69.1%, 27.6%, and 3.3% of the BHG 2021-B collateral balance was originated by BHG, Pinnacle Bank, and County Bank,
respectively. The Statistical Cutoff Date pool consists of 76.1% Commercial Loans and 23.9% Consumer Loans. ” – KBRA

CRVNA 2021-N3

Vervent's Role

Backup Servicer

$438.9 Million

Asset Backed Securities

“CRVNA 2021-N3, represents the fifth term ABS securitization for the Company in 2021, the fourth
under its non-prime shelf, and the eleventh overall. CRVNA 2021-N3 issued seven classes of notes totaling $438.9
million. The transaction is collateralized by approximately $420 million of automobile loans to primarily non-prime
obligors as defined by the Company (obligors with Carvana Deal Scores ranging from 0 to 49).”
  – KBRA

FHF 2021-2

Vervent's Role

Backup Servicer

$152.34 Million

Asset Backed Securities

“FHF 2021-2 issued three classes of notes totaling $152.34 million collateralized by a pool of retail automobile contracts made to subprime obligors and secured by new and used automobiles and trucks. Credit enhancement on the notes is comprised of overcollateralization (”OC”), subordination of junior note classes (except for the Class C notes), a cash reserve account and excess spread.” – KBRA

GOOD 2021-4

Vervent's Role

Backup Servicer

$304.5 Million

Asset Backed Securities

“GOOD 2021-4 is a term ABS securitization collateralized by Sustainable Home Improvement Loans originated by GoodLeap. GoodLeap originated all of the Sustainable Home Improvement Loans and sold them to seven “Transferring Entities”, which are noted in the below Transaction Parties table, pursuant to separate purchase agreements. The Transferring Entities sold the Sustainable Home Improvement Loans to Goldman Sachs Lending Partners LLC … for settlement on the closing date. The Issuer issued three classes of Notes in an aggregate principal amount of $304.503 million.”  – KBRA

LLEND 2021-1

Vervent's Role

Backup Servicer

$197.7Million

Asset Backed Securities

“LLEND 2021-1 issued three classes of notes totaling $197.76 million, collateralized by a trust certificate backed by unsecured consumer loans. Credit enhancement consists of excess spread, overcollateralization, subordination (in the case of the Class A and Class B Notes) and a reserve account funded at closing.” – KBRA

Tricolor Auto Securitization Trust 2021-1

Vervent's Role

Backup Servicer

$234.2 Million

Asset Backed Securities

“Tricolor Auto Securitization Trust 2021-1 (“TAST 2021-1”), represents the first rated ABS securitization in 2021 for the Company. Previously, the Company issued a rated ABS securitization in November 2018 as well as five unrated securitizations from 2013-2020. TAST 2021-1 issued six classes of notes totaling approximately $234.2 million.”  – KBRA

THRM 2021-1

Vervent's Role

Backup Servicer

$500 Million

Asset Backed Securities

“THRM 2021-1 issued three classes of notes totaling $500 million. The proceeds from the sale of the notes were used to acquire the loans, fund the prefunding and reserve account as well as pay certain fees and expenses associated with the transaction. The transaction contains approximately $399 million of receivables as of the July 5, 2021 statistical cutoff date (“Statistical Cutoff Date”) out of an expected collateral balance of approximately $609 million after completion of the prefunding period.”  – KBRA

RFS 2021-1

Vervent's Role

Backup Servicer

$100 Million

Asset Backed Securities

“RFS 2021-1 represents the Company’s second offering of asset-backed securities sponsored by Rapid Financial Services, LLC and the second transaction rated by KBRA. RFS 2021-1 is collateralized by business loans made to small-and medium-sized businesses future receivables purchased from Merchants at a discounted purchase price and Line of Credits …”  – KBRA

AUTOT 2021-A

Vervent's Role

Backup Servicer

$280.9 Million

Asset Backed Securities

“AUTOT 2021-A represents the inaugural ABS securitization for Automotive Credit Corporation. AUTOT 2021-A issues four classes of notes totaling $280.9 million collateralized by a pool of retail automobile contracts, made to subprime obligors and secured by new and used automobiles and trucks.” – KBRA

FCRT 2021-2

Vervent's Role

Backup Servicer

$280 Million

Asset Backed Securities

“FCRT 2021-2 represents the tenth rated term ABS securitization for Foursight Capital LLC. This transaction will be collateralized by approximately $280.7 million of mostly near-prime automobile loans secured by new and used vehicles.”  – KBRA

LendingPoint 2021-A Asset Securitization Trust

Vervent's Role

Backup Servicer

$542.4 Million

Asset Backed Securities

“LendingPoint LLC’s fifth KBRA-rated securitization of non-prime unsecured consumer installment loans, and first in 2021. LP 2021-A issued four classes of notes totaling $542.4 million” – KBRA

CRVNA 2021-P2

Vervent's Role

Backup Servicer

$802.43 Million

Asset Backed Securities

“CRVNA 2021-P2 will issue eight classes of notes rated ‘K1+ (sf)’ though ‘BB+ (sf)’ totaling $802.43 million. The transaction is collateralized by approximately $775 million of automobile loans to primarily prime obligors as defined by the Company.”  – KBRA

Mosaic Solar Loan Trust 2021-2

Vervent's Role

Backup Servicer

$400 Million

Asset Backed Securities

“This transaction, Mosaic Solar Loan Trust 2021-2 (“Mosaic 2021-2”), represents the tenth rated term ABS securitization collateralized by secured consumer loans originated by the Company. Mosaic 2021-2 will issue four classes of notes in an aggregate principal amount of $191.05 million. The notes will be backed by a pool of mostly prime quality residential consumer solar loans originated to finance solar energy systems…” – KBRA

VEROS 2021-1

Vervent's Role

Backup Servicer

$220.44 Million

Asset Backed Securities

“VEROS 2021-1 issued three classes of notes totaling $220.44 million collateralized by a pool of fixed rate retail automobile contracts, made to subprime obligors and secured by primarily used automobiles.” – KBRA

Avant Loans Funding Trust 2021-Rev1

Vervent's Role

Sub-Servicer

$200 Million

Asset Backed Securities

“This transaction represents Avant, LLC’s … eleventh rated securitization collateralized by a trust certificate backed by unsecured consumer loans originated through its online marketplace lending platform.” – KBRA

Ondeck Asset Securitization Trust III LLC Series 2021-1

Vervent's Role

Backup Servicer

$300 Million

Asset Backed Securities

“As of the March 31, 2021 statistical pool cutoff date (“Statistical Cutoff Date”), the pool of receivables had an aggregate outstanding receivables balance of approximately $315.79 million with approximately 70% of the outstanding balance consisting of Term Loans and approximately 30% of LOC loans.“ – KBRA

BHG Securitization Trust 2021-A

Vervent's Role

Backup Servicer

$348.75 Million

Asset Backed Securities

“The loans in the transaction were originated by BHG or Pinnacle Bank … pursuant to the respective originator’s underwriting criteria…BHG’s Commercial Loans are fixed rate, fully amortizing loans with amounts ranging from $20,000-$500,000, original terms up to 12 years and are generally used for business development and business debt consolidation.” – KBRA

Credito Real USA Auto Receivables Trust 2021-1

Vervent's Role

Backup Servicer

$130.380 Million

Asset Backed Securities

“The transaction is collateralized by a pool of indirect retail automobile contracts made to subprime obligors, including some obligors who have filed for bankruptcy (Chapter 7 or 13) and have decided to purchase a vehicle prior to the closing or discharge of their bankruptcy case.“ – KBRA

FHF 2021-1

Vervent's Role

Backup Servicer

$121.25 Million

Asset Backed Securities

“FHF 2021-1 issued three classes of notes totaling $121.25 million collateralized by a pool of retail automobile contracts, made to subprime obligors and secured by new and used automobiles and trucks.” – KBRA

CRDBL 2021-1

Vervent's Role

Backup Servicer

$65.799 Million

Asset Backed Securities

“CRDBL 2021-1 is collateralized by business loans (“SMB Loans”) made to small-and medium-sized businesses (“Merchants”) and future receivables purchased from Merchants at a discounted purchase price (“Factored Receivables”). – KBRA

Carvana Auto Receivables Trust 2021-P1

Vervent's Role

Backup Servicer

$432 Million

Asset Backed Securities

“The transaction is collateralized by approximately $415 million of automobile loans to primarily prime obligors as defined by the Company (obligors with Deal Scores ranging from 50 to 100).” – KBRA

Carvana Auto Receivables Trust 2021-N1

Vervent's Role

Backup Servicer

$400 Million

Asset Backed Securities

“The transaction is collateralized by approximately $400 million of automobile loans to primarily non-prime obligors as defined by the Company (obligors with Deal Scores ranging from 0 to 49).” – KBRA

Pagaya AI Debt Selection Trust 2021-1

Vervent's Role

Backup Servicer, Verification Agent & Custodian for Prosper

$810 Million

Asset Backed Securities

“This transaction is backed solely by cash flows from unsecured consumer loans purchased by the Sponsor from the Platform Sellers or originating bank.” – KBRA

Mosaic Solar Loan Trust 2021-1

Vervent's Role

Backup Servicer, Verification Agent & Custodian

$331 Million

Asset Backed Securities

“The notes will be backed by a pool of mostly prime quality residential consumer solar loans originated to finance solar energy systems, including, without limitation, solar panels or modules, inverters, electricity storage, charging/monitoring equipment (including batteries and automobile charging equipment), prepaid operations and maintenance agreements and related landscaping, roofing or re-roofing, wiring, electrical system upgrades and any additional equipment or services related to installation (“Solar Energy Systems”)”-  KBRA

Foursight Capital Auto Receivables- Trust FCRT 2021-1

Vervent's Role

Backup Servicer

$249.16 Million

Asset Backed Securities

“This report is based on information regarding the underlying auto loans and the terms of the securitization.” – KBRA

Freed ABS Trust 2021-1CP

Vervent's Role

Backup Servicer Subcontractor

$186.5 Million

Asset Backed Securities

“This transaction represents the eighth overall ABS securitization collateralized by unsecured consumer loans originated through Freedom Financial Asset Management.” – KBRA

ABS Continental Finance Credit Card ABS Master Trust

Vervent's Role

Backup Servicer

$188.9 Million

Series 2020-A Asset Backed Notes

“CFCCMT Series 2020-A, represents the Company’s fourth term ABS and first master trust issuance. The Notes are collateralized and repaid by a portfolio of revolving general-purpose credit card accounts.” – KBRA

Loanpal Solar Loan 2021-1 LTD

Vervent's Role

Backup Servicer

$390.12 Million

Asset Backed Securities

“The loan proceeds were used to finance either a Solar Energy System or a Solar Energy System with an Energy Storage System, as well as any related Home Efficiency Items installed at the time of installation (collectively a “Solar System”)” – KBRA

ABS Loanpal Solar Loan 2020-3 LTD and Loanpal Solar Loan 2020-3 LLC

Vervent's Role

Backup Servicer

$346.73 Million

Asset Backed Securities

“The trust is collateralized by a pool of residential solar loans that are, for the most part, of prime quality.” – KBRA

Carvana Auto Receivables Trust 2020-P1

Vervent's Role

Backup Servicer

$420 Million

Asset Backed Securities

“The transaction is collateralized by approximately $405 million of automobile loans to primarily prime obligors as defined by the Company (obligors with Deal Scores ranging from 50 to 100)” – KBRA

Lendingpoint 2020-REV1 Asset Securitization Trust

Vervent's Role

Backup Servicer

$328.5 Million

Asset Backed Securities

“This transaction, LendingPoint 2020-REV1 Asset Securitization Trust (“LP 2020-REV1”), is LendingPoint LLC’s (“LendingPoint” or the “Company”) fourth KBRA rated securitization of non-prime unsecured consumer installment loans, and its first rated revolving transaction.” – KBRA

BCC Funding XVII LLC

Vervent's Role

Backup Servicer

$201 Million

Equipment Contract Backed Notes, Series 2020-1

“The BCC Funding XVII LLC transaction represents the seventh equipment asset-backed securities (ABS) transaction sponsored by Balboa, following issuances in each of 2007 (which benefited from bond insurance), 2014, 2015, 2016, 2018 and 2019.” – KBRA

Aqua Finance Trust 2020-A

Vervent's Role

Backup Servicer

$430.87 Million

Asset Backed Securities

“The transaction is collateralized by a pool of retail installment sale contracts and agreements (“Contracts”) primarily used by consumers to purchase water treatment equipment or make home improvements.” – KBRA

Nyserda Residential Clean Energy Loan Green Revenue Bonds Series-2020a

Vervent's Role

Backup Servicer

$16.69 Million

Asset Backed Securities

“The NYSERDA 2020A Bonds are being issued to (a) purchase mostly prime loans made by NYSERDA to fund (i) the installation of energy efficiency improvements (46.25% of the collateral) (“Energy Efficiency Loans”) and (ii) the installation of solar electric systems (also referred to as photovoltaic, or PV) on one-to-four family residential structures for eligible applicants as part of NYSERDA’s Green Jobs – Green New York program (“GJGNY Program”)(53.75% of the collateral) (“Solar Loans”) (b) fund a reserve fund and (c) pay the costs of issuance” – KBRA

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