Deal Comparison Table Definitions
Below represents the definitions found for every field in the Deal Comparison Table
on the Percent platform.
Offering Overview Section
The name of the offering.
The name of the originator supporting the offering.
The current status of the note on the platform.
The calendar date that the transaction closed and was financed.
The date in which the note is expected to mature.
The length of time that's expected for the note to be paid off.
Weighted average life; the average amount of time each dollar of principal remains outstanding for the underlying assets.
The original principal balance of the respective note.
Annual Percentage Yield
The yield on an investment in one year, taking into account the effects of compounding and reinvesting.
The position of the offering in the originator's capital structure.
Lump sum payment of principal and interest at maturity.
Scheduled payments of principal and interest throughout note term.
Interest Only Structure
Scheduled payments of interest throughout note term with a lump sum principal payment at maturity.
The date prior to the call period, where the call period is the time frame in which the issuer reserves the right to return the investor’s principal and stop interest payments before the note’s maturity date.
Amortization Start Date
The calendar date in which the amortization process begins (where applicable), which results in scheduled repayments of principal and interest.
The date in which the offering was called by the originator.
Credit Enhancements Section
Credit enhancement embedded into the note program to protect against losses; the excess collateral above the note amount expressed as a percentage of the total collateral (for junior positions this considers the part funded by the senior creditor).
The percentage amount of the collateral's value that the lender is willing to extend as a loan or note.
Credit enhancement embedded into the note program to protect against losses, expressed as a percentage of the total portfolio amount (for junior positions this considers the part funded by the senior creditor).
A legal notice an originator files with the secretary of state when they have a security interest against an asset.
Segregated Account for Collections of Note Collateral
Whether or not the account responsible for collecting the principal and interest from the underlying receivables is segregated from other accounts the originator has.
DACA on Collections Account
Whether or not the respective collections account has a Deposit Account Control Agreement, which is an agreement between a debtor, a lender, and a bank that allows the lender to perfect a security interest in the customer's funds by taking control of the deposit account.
Cash Sweep Frequency
The frequency in which cash is swept from the collections account to pay off the note balance.
Other Cash Controls
Cash controls in excess of the segregated account, DACA and cash sweep frequency.
Note Performance Test
Tests conducted to measure the performance of the note and underlying collateral. The Asset Test Ratio measures how much overcollateralization (OC) exists to determine whether or not cashflow can be reinvested into new collateral supporting the Note (when above the Minimum OC) or leaked to the originator (when above the Excess OC).
Note Performance Test Frequency
The frequency in which the note performance tests are performed, where applicable.
Anticipated Reporting Frequency
The expected frequency of collateral performance reported by the originator.
Asset Details and Modeling Assumptions Section
The asset class that the originator of the underlying receivables is in.
The specific sector that the originator of the underlying receivables is in.
Historical Default Rate
The historical default rate for the underlying assets.
Average Annualized Asset Yield
The average expected yield on the underlying asset portfolio earned in one year. A higher underlying asset yield is beneficial to a securitization's investors, even if it isn't earned by investors, by increasing the cash flow available to make principal and interest payments.
Average Asset Term
The average amount of time an asset in an underlying portfolio is expected to remain outstanding.
Number of Assets / Payors
The number of underlying assets and the number of entities making payments.
Maximum Single Obligor Exposure
At the time of closing, the maximum exposure to the largest obligor expressed as a percentage of the total underlying collateral.
Where applicable, criteria defined regarding characteristics of the underlying collateral.
Currency of Underlying Receivables
The currency that is being used to pay off the underlying receivables.
Where applicable, a risk management strategy typically involving derivatives to offset potential losses in an investment by taking an opposite position in a related asset.
Yes or No
Whether or not the offering includes participation interests in the hedging mechanism, where applicable.
Note-Life Expected Default Rate
- Modeled default rate on the underlying assets over the life of the note.
First Loss Coverage
The ratio of Overcollateralization and Cash Reserve to the Life Default Rate.
The difference between the average asset yield (before losses) and the Percent Note annual percentage yield; a further source of credit enhancement.
Corporate Overview Section
The country in which the company is located.
The industry in which the company is located.
# of Employees
The number of employees the company has.
Year Company Formed
The year in which the company was formed.
Year Originations Started
The year in which the company began to originate the underlying receivables.
Largest geographic region of the underlying receivables.
Equity Raised to Date
The dollar amount of equity that the company has raised so far.
Noteworthy Pending Lawsuits
Whether or not the company has any critical outstanding lawsuits.
Written Underwriting Policies & Procedures
Whether or not the company has formal, written policies and procedures on their underwriting process.
Written Business Continuity Plan
Whether or not the company has a formal, written business continuity plan.
Whether or not the company has a compliance team.
Risk Management Program
Whether or not the company has a formal risk management program.
Insurances in Place
Whether or not the company has any form(s) of insurance.
Whether or not the company has a plan ready for a back-up servicer to take over the servicing process in the event something impacts their servicing practice.
Yes or No
Whether or not Percent conducted due diligence on the originator of the receivables.
Internal Audit (Last 12 Months Only)
Whether or not the company has been audited internally over the last year's worth of time.
External Audit (Last 12 Months Only)
Whether or not the company has been audited externally over the last year's worth of time.
Audited Financials (Last 12 Months Only)
Whether or not the company has provided audited financials over the last year's worth of time.
Regulatory Compliance Confirmation (Last 12 Months Only)
Whether or not the company's regulatory compliance has been confirmed over the last year's worth of time.