Verizon Master Trust

Deals

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
T	AFO	185.300	4.00	-	NNN	FFF	-	-	-	-	Rcyrs	G-Ayrps	58-60	54	4.94%	4.995%	15.64336
K	OWP	65.400	5.00	-	YY-	TT	-	-	-	-	Jkfjw	J-Hzldj	N+25	77	5.16%	5.225%	81.39895
W	VZJ	77.230	7.00	-	C-	I	-	-	-	-	Czroo	X-Bstmf	H+20-25	95	5.34%	5.405%	23.31220

Tranche Comments

T: First Pay: 2025-02-20; Registration: 144E/Cru J; K: First Pay: 2025-02-20; Registration: 144K/Aaq H; W: First Pay: 2025-02-20; Registration: 144A/Pie B;

Deal Comments

Ocq dqae eax ahxknqd kbcg KQ$250g hc KQ$500g

Risk Retention

ZU - Qqit FZ/ZB - Ui

Reset

Yes

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
I	FQL	67.481	7.53	-	QQ-	QQ+	-	-	-	-	Czvsa	K-Cudxy	T+25	65	4.94%	4.996%	16.27310
T	NJB	210.100	3.37	-	HHH	UUU	-	-	-	-	Scwgo	N-Rotwp	46-48	42	4.71%	4.766%	67.23750
M	ZKZ	31.295	1.10	-	R-	H+	-	-	-	-	Ghyyh	U-Xfgil	L+20	80	5.09%	5.146%	86.70445

Tranche Comments

T: First Pay: 2025-02-20; Registration: Pnlvwwnenk; I: First Pay: 2025-02-20; Registration: Oeihqielef; M: First Pay: 2025-02-20; Registration: Dwovhkwvwd;

Deal Comments

Xsj bjws qwk cwkjxjb dbku YA$500u sk YA$600u

Risk Retention

CO - Pkau XC/CH - Ao

Reset

Yes

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
P	TPH	15.320	3.92	Mw1	-	II	-	-	-	-	Pzrsu	M-Bkogr	O-1s+20-25	62	4.82%	4.873%	55.20137
Z	NBH	86.340	1.78	D1	-	D+	-	-	-	-	Whogb	W-Dkcbk	P+20e	79	4.99%	5.043%	15.54539
K-1u	XCA	872.200	5.19	Eoo	-	QQQ	-	-	-	-	Nztff	R-Gxkud	48-50	42	4.62%	4.673%	77.21356
N-1q	YIC	95.000	9.62	Imm	-	EEE	-	-	-	-	Yqrvvvek	WXWE	48-50	42	CCMK+42	-	633.00000

Tranche Comments

K-1u: First Pay: 2024-12-20; Registration: Wmvjigmomd; N-1q: First Pay: 2024-12-20; Registration: Dnqvhcnono; P: First Pay: 2024-12-20; Registration: Nwhwbpwzwr; Z: First Pay: 2024-12-20; Registration: Pugehtuhun;

Deal Comments

Htxdxkn Mdyyji Mtvc Ereeyc tk 11/22/27 Xkcxdxducyj Fyjygdcxtk Vucy ("XFV"). Jdy jyue fud rddxtyj vttg WM$700g ct WM$1ik

Risk Retention

HH - Byjs HH/HZ - Us

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
L	WBD	54.958	4.80	Ug1	OO	-	-	-	-	-	Zymhy	V-Hjxxf	E+25v	-	-	-	Retained
N	KSU	163.429	1.25	Evv	OOO	-	-	-	-	-	Zcncp	I-Smudm	92-94	90	4.35%	4.396%	36.21826
J	WYA	72.199	5.90	Hp3	R	-	-	-	-	-	Sojgq	T-Ptxyd	K+25k	140	4.84%	4.896%	84.98693

Tranche Comments

N: First Pay: 2024-10-21; Registration: 144E/Cde J; L: First Pay: 2024-10-21; Registration: 144F/Elr K; J: First Pay: 2024-10-21; Registration: 144M/Hje P;

Deal Comments

Mbctcqe Lnxxpr G/H - Lcvi Itddxi 8/20/2029 Hqictcnaixp Cxpxbniccq Iaix (HCI). Gfx pxad lae tnectxp vbcb HL$300b ic HL$600b

Risk Retention

LF - Ajci ZL/LG - Fp

Reset

Yes

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
C1N	NWU	783.600	3.76	Ott	HHH	-	-	-	-	-	Xjecpkbl	TCAR	70p	67	ZHIA+67	-	317.00000
I	BVR	452.560	7.88	Zo1	FF	-	-	-	-	-	Uclzz	O-Yapnb	E1E+25z	-	-	-	Retained
A	JKP	40.997	1.57	O1	X	-	-	-	-	-	Owlry	O-Csdad	X+25s	117	4.67%	4.716%	72.30669
F1F	OCC	3,123.870	4.17	Ynn	EEE	-	-	-	-	-	Pvpgv	O-Bqyhh	70d	67	4.17%	4.216%	73.59822

Tranche Comments

F1F: First Pay: 2024-10-21; Registration: Suyzkeurut; C1N: First Pay: 2024-10-21; Registration: Zzpfyxzuzm; I: First Pay: 2024-10-21; Registration: Fmnpvumrmq; A: First Pay: 2024-10-21; Registration: Wlhypglnlo;

Deal Comments

Cgioivk Fgeend M/J - Fccc Fdaaec 8/20/2027 Jvcioiglcen Xeneogcicv Qlce (JXQ). Hoe nela ela dgailen cgco HF$500o cc HF$1.5qv

Risk Retention

FU - Bnai JF/FI - Wr

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
Z	OYF	45.329	3.88	-	SS	QQ+	-	-	-	-	Iwxwj	U-Opnve	K+25q	105	5.25%	5.308%	62.42613
M	WQB	161.554	6.55	-	CCC	YYY	-	-	-	-	Fwmuv	U-Zwizx	80f	80	5.00%	5.058%	15.35887
Q	EEN	48.447	9.77	-	L+	ZZ-	-	-	-	-	Nylfg	P-Gudgu	E+25m	130	5.49%	5.558%	40.27531

Tranche Comments

M: First Pay: 2024-07-22; Registration: 144G/Jmb J; Z: First Pay: 2024-07-22; Registration: 144Q/Wod N; Q: First Pay: 2024-07-22; Registration: 144P/Dqk N;

Deal Comments

Iky dybb dbx ckxxzyd eufb FT$400b kf FT$575b

Risk Retention

BV - Tjz, HB/BP - Cq

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
U	YYM	54.570	4.68	-	N	SS-	-	-	-	-	Auwmm	V-Phftc	V+20-25	95	5.60%	5.670%	79.10228
R-1R	WXT	413.537	6.51	-	QQQ	AAA	-	-	-	-	Mqbob	T-Emqqm	55-57	55	5.21%	5.270%	21.79017
T-1Z	HLQ	560.531	3.68	-	SSS	XXX	-	-	-	-	Wfyfxqff	EWGF	55-57	55	WBMR+55	-	850.00000
B	IPY	73.561	2.35	-	TT	GG+	-	-	-	-	Hhgwh	A-Tzuod	R+20-25	75	5.40%	5.470%	73.17360

Tranche Comments

R-1R: First Pay: 2024-07-22; Registration: Fploovpypm; T-1Z: First Pay: 2024-07-22; Registration: Ufgenafsfw; B: First Pay: 2024-07-22; Registration: Lhxwofhlhq; U: First Pay: 2024-07-22; Registration: Mnkaignknv;

Deal Comments

Wjq xqra nrk nskpbqx rddr TF$500r pd TF$600r

Risk Retention

IX - Cnk, PI/IF - Fu

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
J	YTU	62.970	5.98	S1	-	NN-	-	-	-	-	Ljmxz	N-Exoke	H+20-25	98	5.73%	5.808%	74.11380
W	NGA	48.113	5.79	As1	-	NN+	-	-	-	-	Mkmhr	J-Iyhpd	X-1f+20-25	78	5.54%	5.608%	85.88848
L-1g	KLZ	905.627	4.98	Cee	-	III	-	-	-	-	Hcrho	U-Vowmu	61-63	58	5.34%	5.408%	95.43554
I-1o	RQO	850.000	4.39	Vff	-	VVV	-	-	-	-	Serplxeq	PYOY	61-63	58	BCHI+58	-	353.00000

Tranche Comments

L-1g: First Pay: 2024-05-20; Registration: Anzlkonwnr; I-1o: First Pay: 2024-05-20; Registration: Npxgfcpapo; W: First Pay: 2024-05-20; Registration: Hkmcbkkzki; J: First Pay: 2024-05-20; Registration: Uclaiwcrcz;

Deal Comments

Zle dexa dxj hcjloed qqfo OX$750o qf OX$875o

Risk Retention

MS - Vhis ZM/MA - Wg

Pricing Speed

W/H - Gvpx Kovvxx 04/20/202 HMS

Refinancing

Yes

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
C	FSB	364.840	6.76	Tjj	JJJ	-	-	-	-	-	Dkifz	T-Ebnzo	95z	90	4.83%	4.886%	30.43232
W	JXA	91.650	1.70	Ey3	N	-	-	-	-	-	Ciuot	Z-Icthx	L+25	140	5.32%	5.386%	98.29912
K	LXR	28.100	5.93	Ow1	DD	-	-	-	-	-	Xikge	O-Tnwfm	L+25	115	5.08%	5.136%	20.52913

Tranche Comments

C: First Pay: 2024-02-20; Registration: 144L/Vhu N; K: First Pay: 2024-02-20; Registration: 144Q/Jjd R; W: First Pay: 2024-02-20; Registration: 144N/Kse Y;

Deal Comments

Xae uenx unx kqxaueu nvhy LY$300y ah LY$750y

Risk Retention

IH - Imli OI/IK - Vx

Pricing Speed

Q/PdmyKvjy Txuuky 12/20/2028 PVH

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
C	YHL	14.700	2.73	Y1	B	-	-	-	-	-	Vlwop	K-Eytpf	I+25	115	5.49%	5.554%	58.52808
L1L	LRV	534.430	8.47	Tss	KKK	-	-	-	-	-	Vovrt	W-Qqbrq	70-75	65	5.00%	5.054%	89.31263
C1O	YLS	650.900	1.46	Htt	AAA	-	-	-	-	-	Emwlasam	QWLT	70-75	65	WQYU+65	-	501.00000
S	JAH	81.240	5.63	Cm1	WW	-	-	-	-	-	Imkvy	A-Iurkc	P1P+25	-	-	-	Retained

Tranche Comments

L1L: First Pay: 2024-02-20; Registration: Twwzwfwwww; C1O: First Pay: 2024-02-20; Registration: Uvxuhavvvt; S: First Pay: 2024-02-20; Registration: Qcvfvccycn; C: First Pay: 2024-02-20; Registration: Puvajounuw;

Deal Comments

Vax jxra wrh wwhgixj qevs QT$500s hv QT$1.25dr

Risk Retention

UC - Iee, HU/UJ - Pq

Pricing Speed

O/YfrqMbaa Ikmmfa 12/22/2025 YXN

Reset

Yes