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In both pools, Fitch finds that gross yields remained strong at 26.49%, up from 25.74% a year ago. Also, the monthly payment rate increased to 64.57%, an increase from 63.82% a year prior.
The predominant portion of receivables in the trust portfolio is composed of receivables from the Robinhood Gold Card program, which the company launched in March 2024.
Structured as a master trust deal, AVCCT 2026-1 includes a three-year revolving period, when no principal payments will be made on the series 2026-1—unless an early amortization event happens.
Navient will follow a sequential repayment structure, and no subordinate classes will receive any principal until the most senior outstanding class is paid in full.
Tower Point Capital, the deal's manager, is considered to have one of the largest privately held wireless infrastructure portfolios in the U.S.
