The deal includes a minimum assets test, requiring the issuers to own at least 10 assets at the end of the nine-month delivery period, or seven assets after the delivery period.

Like other recent pools of securitized mortgages located in the Los Angeles County area, any loans that exhibited material damage from the fires were removed from the pool before closing.

The A2B notes in TAOT 2025-A will make up 75% of total class A2 notes, a much higher percentage of floating-rate A2B notes ...