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05-15-2020, 02:46 PM #1
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Rapid Amortization Events
did anyone else read the articles that FORA and Rapid Finance and NFAS (which co is this) had a RAE reported by Kroll Bond Agency?
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05-15-2020, 02:54 PM #2
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- May 2018
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I saw those press releases. I'm curious how On Deck has escaped a RAE. Or maybe it's already happened but hasn't been publicized.
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05-15-2020, 03:03 PM #3
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https://www.businesswire.com/news/ho...FAS-LLC-Series
national is nfas
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05-15-2020, 04:09 PM #4
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05-15-2020, 04:15 PM #5
"As of May 7, 2020, an early amortization event occurred with respect to the Series 2019-1 notes issued by OnDeck Asset Securitization Trust II LLC, or ODAST II as a result of an asset amount deficiency in that Series. Beginning on the next payment date under the ODAST II Agreement, all remaining collections held by ODAST II, after payment of accrued interest and certain expenses, will be applied to repay the principal balance of the Series 2018-1 notes and the Series 2019-1 notes on a pro rata basis."
https://www.sec.gov/Archives/edgar/d...3110qfinal.htm
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05-15-2020, 04:26 PM #6
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- May 2018
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05-15-2020, 07:29 PM #7
Also they just filed more info about this and others after the closing bell today: https://www.sec.gov/Archives/edgar/d...waiver0514.htm
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05-16-2020, 02:32 AM #8
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- Feb 2018
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https://www.abalert.com/search.pl?ARTICLE=188803
this alert hit back in march
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