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Donna M. Mitchell is a financial journalist based in the New York metro area with expertise covering structured finance, commercial real estate, and wealth management. Her work has appeared … Read full bio
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The deal features a principal acceleration trigger. If breached, the transaction will divert all additional funds to paying down the principal on the notes.
Oxford Finance's collateral has a maximum advance rate of 72.0% on the A1 and A2 notes and 82.0% on the class B notes.
Ratings analysts caution that the notes have a WA life of about three years while, and the underlying asses have a WA remaining term of about 20 years.
ExteNet's capital structure maintains cash flow by including cash trapping and cash sweeping conditions.
Almost the entire pool of mortgages will fund primary residences and were underwritten using full documentation.
