VF1

KBRA Assigns Ratings to FMC GMSR ISSUER TRUST, MSR COLLATERALIZED NOTES, Series 2019-VF1, Series 2020-PIAVF1 and Series 2020-SAVF1

Retrieved on: 
Wednesday, January 11, 2023
Banking, Professional Services, Finance, MSR, Corporation, Tax, Insurance, VF1, Acknowledgment, FHA, VFN, Government National Mortgage Association, GNMA, USDA, Note, FMC, Security (finance), Financial adviser, Medium term note, Series

Corporate Advance Rates are 68.42%, 31.58% and 45.26% for FHA, VA and USDA advances, respectively.

Key Points: 
  • Corporate Advance Rates are 68.42%, 31.58% and 45.26% for FHA, VA and USDA advances, respectively.
  • These notes are backed by the same participation interests created in the underlying MSRs that support the previously issued term notes.
  • These events include early amortization of the term notes when the amount funded against the VFN falls below $30.0 million.
  • The advance rate percentages for the applicable advance types as set forth in the Series 2020-PIAVF1 and Series 2020-SAVF1 Indenture Supplement are as follows: