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Fitch downgrades two nonbank residential mortgage lenders.
The loans were originated by Sprout Mortgage, Newfi Lending, and others.
The residential mortgage-backed notes are supported by 748 loans with a balance of $471.3 million..
This is Angel Oak’s sixth private-label securities offering this year.
BRAVO 2022-NQM3 notes are supported by 920 loans with a total interest-bearing balance of approximately $387 million.
Notes are supported by 681 loans with a total unpaid principal balance of approximately $358.9M.
