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.

 

Carvana Auto Receivables
Backup Servicer

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
Backup Servicer

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

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

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

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

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

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

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

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

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 Recievables
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

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
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
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
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

Continental Finance Credit Card
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
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

Loanpal Solar
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
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

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
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

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 Soalr and Energy Efficiency
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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