- Visio 2019-1 Trust's issuance is an RMBS transaction backed by first-lien fixed- and adjustable-rate fully amortizing investment property mortgage loans secured by single-family residential properties, planned-unit developments, condominiums, and two- to four-family residential properties to both prime and nonprime borrowers. The pool has 879 loans; all loans are business-purpose investor loans and are exempt from the qualified mortgage/ability-to-repay rules.
- We assigned our ratings to the class A-1, A-2, A-3, M-1, B-1, and B-2 notes.
- The ratings reflect our view of the pool's collateral composition, as well as the transaction's credit enhancement, structural mechanics, and representation and warranty framework, among other factors.
NEW YORK (S&P Global Ratings) May 8, 2019--S&P Global Ratings today assigned its ratings to Visio 2019-1 Trust's mortgage pass-through notes (see list). The note issuance is a residential mortgage-backed securities (RMBS) transaction backed by first-lien fixed- and adjustable-rate fully amortizing investment property mortgage loans secured by single-family residential properties, planned-unit developments, condominiums, and two- to four-family residential properties to both prime and nonprime borrowers. The pool has 879 loans; all loans are business-purpose investor loans and are exempt from the qualified mortgage/ability-to-repay rules. The ratings reflect:
- The pool's collateral composition;
- The credit enhancement provided for this transaction;
- The transaction's associated structural mechanics;
- The representation and warranty framework for this transaction; and
- The mortgage originator, Visio Financial Services Inc.
