Visio 2019-1 Trust's Notes Assigned Ratings

  • 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.
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