Donna M. Mitchell

The deal's structure includes debt service coverage ratio (DSCR) triggers that will deposit excess cash is deposited in the cash trap reserve and loan-to-value tests.

SEMT 2026-INV4's notes are expected to pay coupons including 5.00%, 5.50% and 6.00% on the super senior tranches and one super senior, floater exchangeable tranche will pay 5.39%.

He joins from Stifel, where he was a managing director, and is part of a shift that pushes Jim Baldo to senior managing director in fixed income sales.

The notes will be issued off of a pool of 3,525 first- and junior-lien revolving HELOCs that were recently originated. The deal will repay investors on the 25th of each month, and notes have a stated final maturity date of July 2056.

The class A notes include first cash flow and last cash flow tranches, both of which benefit from 28.31% in credit enhancement, Fitch said. Following that in seniority, the A1A, A1B, A2 and A3 notes have credit enhancement levels of 38.31%, 28.31%, 21.65% and 11.75%, respectively.

FHF Issuer Trust 2026-2's final distribution dates range from Sept. 15, 2027 on the class A1 notes through Jan. 16, 2034 on the class F notes, according to DBRS.

The deal structure includes a lock-out feature that will redirect the portion of the subordinate principal among other protective features like subordination.

For its first securitization PMCC 2026-1 will sell to noteholders through six tranches of notes, and credit enhancement coverage that begins at 67.91% on the AAA-rated, class A notes.