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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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FFIN 2026-2's notes will repay investors sequentially, other than during a class A credit enhancement period.
A new cohort of lenders, Dort Financial Credit Union, Gesa Credit Union and Liberty Federal Credit Union originated the loans and contributed them to the collateral pool.
The 306 loans are primarily first-lien, small balance business loans secured by commercial real estate properties, and other collateral related to the mortgage property.
GDLP 2026-2 also has lower levels of initial credit enhancement compared to GDLP 2026-1, at 6.12% versus 5.74%; overcollateralization at 23.90% versus 24.92% and total gross excess spread of 5.55% versus 5.98%.
Most borrowers, 61.2%, fall within SoFi Bank's highest tiers 1 and 2, and they have a WA income of $156,504.That's an improvement from their earnings on SCLP 2026-3.
