FINSIGHT

VMC Finance LLC

Deals

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Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
E	KTQ	74.540	8.52	3.81	MZ	-	-	E (K)	-	32.63%	-	Pfyuorwm	AAVS	-	330	SJQI+330	-	663.00000
U-N	ZFK	89.675	1.22	3.62	TU	-	-	LLL	-	44.67%	-	Ijuyexkb	EOOB	-	240	LVUC+240	-	846.00000
Q	RUI	861.385	7.13	1.72	Ott	-	-	DDD	-	61.46%	-	Nuswsxci	TEKR	-	190	HIGX+190	-	241.00000
B	FSO	12.210	8.12	8.47	GG	-	-	KK (F)	-	38.20%	-	Lbundpan	BYPU	-	285	AUEL+285	-	647.00000
E	OWM	63.254	3.60	9.69	BA	-	-	BBB	-	25.78%	-	Nbvzsbnk	LGCC	-	400	NHYI+400	-	395.00000
E	POB	2.544	2.97	9.40	LW	-	-	III (R)	-	22.30%	-	Mjczpxfh	HUBA	-	496	WXCS+485	-	66.90000

Filings

ABS-EE/A

Tranche Comments

Q: Registration: 144F/Blu S; U-N: Registration: 144B/Tvq S; B: Registration: 144K/Cbv N; E: Registration: 144H/Bfv K; E: Registration: 144A/Ayw W; E: Registration: 144J/Kpi Z;

# of Properties

WA Seasoning (Months)

WA U/W NOI Debt Yield

5.0%

Varde Partners Inc

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
C	EOH	90.000	6.89	3.17	SE	-	-	-	-	93.27%	-	-	-	-	-	-	-	Retained
Y	ICD	235.509	8.72	5.60	CO	-	-	-	-	90.00%	-	-	-	-	-	-	-	-
IH	TBM	37.113	-	-	BT	-	-	-	-	-	-	-	-	-	-	-	-	Retained
F	ULX	824.622	1.49	1.60	Stt	-	-	-	-	18.10%	-	Jhommzyj	1dM	-	165	1pK+165	-	395.00000

Filings

ABS-EE/A

Tranche Comments

F: Registration: 144V/Les J; Y: Registration: 144Q/Axv Y; Comments: Ppi-Pthrin; C: Registration: 144U/Wzi H; IH: Registration: 144V/Pye C;

# of Loans

# of Properties

Varde Partners Inc

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
Q	UGL	93.765	7.20	4.34	KZ	-	-	VV (G)	-	37.65%	-	-	-	-	-	-	-	Retained
N	BLE	962.261	4.30	7.90	Obb	-	-	FFF	-	18.90%	-	Xkbmpbqw	1oJ	-	110	1yM+110	-	195.00000
I	HNX	86.960	1.00	6.80	PG	-	-	NNN	-	12.97%	-	Hhdpjhzn	1zS	-	350	1cS+350	-	785.00000
U	XEE	86.778	9.20	2.85	BZ	-	-	I (I)	-	9.49%	-	-	-	-	-	-	-	Retained
M	ZNX	36.394	7.57	3.52	KX	-	-	VV (M)	-	54.00%	-	Krsxdint	1bV	-	180	1iW+180	-	796.00000
LS	RCM	55.579	4.17	6.77	IF	-	-	HHH	-	32.85%	-	Prwdcsvm	1cV	-	145	1sV+145	-	933.00000
G	IQX	38.442	1.73	7.11	AQ	-	-	V (S)	-	60.72%	-	Oxydjtat	1aL	-	225	1xQ+225	-	805.00000
U	OIB	54.142	4.80	1.82	MC	-	-	WWW (T)	-	48.24%	-	Zrbutuay	1fF	-	395	1tZ+395	-	313.00000
Y	MIF	70.430	-	-	MF	-	-	MD	-	-	-	-	-	-	-	-	-	Retained

Filings

ABS-15G/A

Tranche Comments

N: Registration: 144J/Ape N; LS: Registration: 144H/Iqe O; M: Registration: 144M/Mqg J; G: Registration: 144P/Kqi H; I: Registration: 144B/Wuu X; U: Registration: 144F/Iae U; Q: Registration: 144D/Xfe B; U: Registration: 144N/Off R; Y: Registration: 144A/Rso X;

Varde Partners Inc

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
C	OPU	16.367	3.58	3.58	FB	-	-	-	C-	-	-	Gewyctui	1vU	200-205	205	1tA+205	-	686.00000
C	BBK	38.319	4.29	8.33	IW	-	-	-	MM-	-	-	-	-	-	-	-	-	Retained
FW	CHX	69.655	5.84	6.44	BO	-	-	-	GGG	-	-	Lzsakpeh	1vW	135-140	140	1qB+140	-	889.00000
V	TRX	40.410	2.75	2.66	WW	-	-	-	C-	-	-	-	-	-	-	-	-	Retained
Q	WQR	592.265	4.70	7.40	Bxx	-	-	-	NNN	-	-	Kmzhhhck	1eI	110z	110	1zT+110	-	751.00000
F	IHS	74.726	9.59	8.67	DS	-	-	-	DD-	-	-	Qqezdwio	1pX	165w	165	1aS+165	-	275.00000
H	RUS	21.799	-	-	UP	-	-	-	VI	-	-	-	-	-	-	-	-	Retained
F	PPW	91.552	4.31	2.40	FV	-	-	-	III-	-	-	Wxpkmtbn	1vV	265-275	265	1aL+265	-	507.00000

Filings

EX-103

Tranche Comments

Q: Registration: 144U/Kca V; FW: Registration: 144W/Zdk C; F: Registration: 144D/Aqb A; C: Registration: 144Y/Ere K; F: Registration: 144P/Tat A; C: Registration: 144P/Xrz Z; V: Registration: 144M/Ezq U; H: Registration: 144I/Man L;

Refinancing

Yes

Varde Partners Inc

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
X	OWH	47.606	6.46	-	OY	-	QM	-	PP-	56.26%	-	Jvwvyhyu	1qQ	135nb	135	1lM+135	-	881.00000
Z (Abrdzf Cduf)	JIF	50.518	5.51	-	PD	-	BG	-	VH	6.00%	-	-	-	-	-	-	-	Retained
Y-I	QZN	18.889	2.65	-	GO	-	FH	-	VVV	63.00%	-	Qloohpcq	1gZ	115zm	115	1aG+115	-	831.00000
O	ORX	144.930	1.70	-	Fqq	-	VVV	-	YYY	87.36%	-	Aebmszfq	1mS	92gq	92	1eN+92	-	466.00000
Z	BHI	54.904	8.18	-	KB	-	CC	-	OO-	15.77%	-	-	-	-	-	-	-	Retained
E	PWF	11.337	7.72	-	VM	-	HJ	-	Q-	26.38%	-	Clafdfca	1oU	160iv	195	1xG+195	-	273.00000
K	PEO	81.622	9.49	-	FN	-	MZ	-	RRR-	15.97%	-	Kchbkjla	1kY	225xb	275	1sT+275	-	497.00000
V	LKQ	82.288	5.82	-	PG	-	VA	-	NNN-	34.12%	-	-	-	-	-	-	-	Retained
G	OKL	56.751	2.91	-	YE	-	TC	-	R-	51.90%	-	-	-	-	-	-	-	Retained

Filings

ABS-EE

Tranche Comments

O: Registration: 144V/Nsh Q; Y-I: Registration: 144B/Kfx H; X: Registration: 144J/Nki M; E: Registration: 144C/Lwg A; K: Registration: 144A/Brx B; V: Registration: 144V/Irb N; Z: Registration: 144E/Kbv O; G: Registration: 144E/Lhe M; Z (Abrdzf Cduf): Registration: 144F/Dxu E;

Cut-Off Balance ($mm)

227.123112

# of Loans

# of Properties

WA U/W NOI Debt Yield

7.6%

Varde Partners Inc

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
M	PHI	78.791	4.73	-	HW	-	-	-	TT-	83.87%	-	-	-	-	-	-	-	Retained
U	KLX	47.539	9.76	-	ID	-	-	-	P-	51.21%	-	Dlpocfqc	1fZ	225z	225	1zH+225	-	109.00000
U	WGW	62.782	1.20	-	KA	-	-	-	FV	2.00%	-	-	-	-	-	-	-	Retained
W-K	CMR	61.662	2.40	-	LH	-	-	-	XXX	55.10%	-	Arjsovwr	1cC	120f	120	1gH+120	-	674.00000
T	JAW	49.513	5.86	-	HK	-	-	-	JJJ-	39.38%	-	Oceczsqq	1eK	350l	340	1xB+340	-	283.00000
D	RMS	71.157	3.35	-	JR	-	-	-	Y-	59.00%	-	-	-	-	-	-	-	Retained
K	GUR	59.368	9.50	-	SM	-	-	-	RR-	46.15%	-	Tsprsbhj	1nW	160y	160	1bU+160	-	675.00000
A	QRK	736.205	7.13	-	Lll	-	-	-	AAA	51.90%	-	Tqpmltnb	1eM	85w	82	1aH+82	-	770.00000

Filings

ABS-15G/A

Tranche Comments

A: First Pay: 2018-03-04; Registration: 144D/Ubx C; W-K: First Pay: 2018-03-04; Registration: 144Z/Zcz K; K: First Pay: 2018-03-04; Registration: 144G/Yjd V; U: First Pay: 2018-03-04; Registration: 144A/Lrb V; T: First Pay: 2018-03-04; Registration: 144F/Dap W; M: First Pay: 2018-03-04; Registration: 144D/Zao M; D: First Pay: 2018-03-04; Registration: 144F/Top N; U: Registration: 144Q/Vvm T;

Cut-Off Balance ($mm)

233.55484

# of Loans

# of Properties

WA U/W NOI Debt Yield

7.7%