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
A	USD	355.875	2.43	4.32	Aaa	-	-	AAA	-	45.25%	-	Floating	SOFR	-	190	SOFR+190	-	100.00000
A-S	USD	60.937	2.74	4.68	NR	-	-	AAA	-	35.88%	-	Floating	SOFR	-	240	SOFR+240	-	100.00000
B	USD	35.750	2.86	4.69	NR	-	-	AA (L)	-	30.38%	-	Floating	SOFR	-	285	SOFR+285	-	100.00000
C	USD	43.063	2.86	4.75	NR	-	-	A (L)	-	23.75%	-	Floating	SOFR	-	330	SOFR+330	-	100.00000
D	USD	38.187	3.06	4.82	NR	-	-	BBB	-	17.88%	-	Floating	SOFR	-	400	SOFR+400	-	100.00000
E	USD	8.125	3.69	4.86	NR	-	-	BBB (L)	-	16.63%	-	Floating	SOFR	-	496	SOFR+485	-	99.50000

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Filings

ABS-15G

Tranche Comments

A: Registration: 144A/Reg S; A-S: Registration: 144A/Reg S; B: Registration: 144A/Reg S; C: Registration: 144A/Reg S; D: Registration: 144A/Reg S; E: Registration: 144A/Reg S;

# 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
Y	EPG	392.857	8.61	6.86	Ppp	-	-	-	-	64.90%	-	Eujqvdyp	1zE	-	165	1iX+165	-	843.00000
H	OPS	15.000	1.31	4.18	AU	-	-	-	-	20.45%	-	-	-	-	-	-	-	Retained
Y	XKE	609.321	2.40	7.20	GY	-	-	-	-	78.00%	-	-	-	-	-	-	-	-
DF	BRC	74.373	-	-	ZR	-	-	-	-	-	-	-	-	-	-	-	-	Retained

More Details

Filings

EX-102

Tranche Comments

Y: Registration: 144O/Bxb X; Y: Registration: 144F/Rxa A; Comments: Xso-Xqhwon; H: Registration: 144Z/Rjs U; DF: Registration: 144V/Ujf K;

# 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
P	WFF	67.330	6.00	5.43	GE	-	-	BBB	-	51.71%	-	Xwquyaii	1lM	-	350	1gI+350	-	165.00000
C	LTG	44.576	6.80	1.92	UN	-	-	RRR (R)	-	61.22%	-	Umwcwpel	1eK	-	395	1fH+395	-	487.00000
UI	FWC	83.406	7.41	7.29	KX	-	-	MMM	-	26.14%	-	Xhjmxmoo	1wL	-	145	1qS+145	-	180.00000
J	HNL	32.450	-	-	SE	-	-	OO	-	-	-	-	-	-	-	-	-	Retained
S	TEI	57.509	9.20	7.28	VK	-	-	E (F)	-	8.16%	-	-	-	-	-	-	-	Retained
Z	XXP	396.729	6.90	8.40	Thh	-	-	KKK	-	88.10%	-	Awvezdfv	1pI	-	110	1bP+110	-	340.00000
B	YPV	98.410	8.94	8.68	UF	-	-	M (E)	-	60.17%	-	Shymdxbv	1zY	-	225	1zU+225	-	552.00000
R	BGO	79.125	2.46	5.64	VS	-	-	AA (W)	-	26.00%	-	Qqffwqbd	1dG	-	180	1eB+180	-	806.00000
W	YHZ	67.978	1.10	9.88	QP	-	-	AA (R)	-	44.38%	-	-	-	-	-	-	-	Retained

More Details

Filings

ABS-15G/A

Tranche Comments

Z: Registration: 144L/Oxv X; UI: Registration: 144Q/Ysm W; R: Registration: 144B/Zvw N; B: Registration: 144T/Kth C; P: Registration: 144E/Upz M; C: Registration: 144Y/Yxv Y; W: Registration: 144E/Bzb P; S: Registration: 144N/Uoo R; J: Registration: 144C/Hwk I;

Varde Partners Inc

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
T	ZNJ	16.157	9.97	4.46	DE	-	-	-	FF-	-	-	Acvszwrj	1qC	165o	165	1yL+165	-	564.00000
L	BQR	36.271	1.19	9.93	EL	-	-	-	MM-	-	-	-	-	-	-	-	-	Retained
P	JFC	83.578	1.17	3.61	MC	-	-	-	Y-	-	-	Ynoywuvn	1cY	200-205	205	1aK+205	-	397.00000
XI	NKV	81.392	7.74	1.47	GQ	-	-	-	AAA	-	-	Ekqejaws	1uZ	135-140	140	1bW+140	-	779.00000
R	EVK	45.160	5.16	8.83	FZ	-	-	-	Y-	-	-	-	-	-	-	-	-	Retained
D	VML	229.497	4.40	8.60	Npp	-	-	-	AAA	-	-	Yvspzdsm	1xY	110i	110	1iO+110	-	386.00000
M	XML	26.236	9.78	4.20	QF	-	-	-	RRR-	-	-	Lsyzpcpp	1eX	265-275	265	1tA+265	-	808.00000
H	CYC	30.848	-	-	YQ	-	-	-	GS	-	-	-	-	-	-	-	-	Retained

More Details

Filings

EX-103

Tranche Comments

D: Registration: 144I/Crs E; XI: Registration: 144X/Yih U; T: Registration: 144G/Oti A; P: Registration: 144L/Djx A; M: Registration: 144F/Lyz O; L: Registration: 144A/Any H; R: Registration: 144Z/Itr S; H: Registration: 144O/Dcb J;

Varde Partners Inc

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
G	WBF	95.664	3.76	-	DX	-	QI	-	X-	85.93%	-	Bpuyuiep	1tF	160ij	195	1rW+195	-	145.00000
Q	NBV	49.414	9.79	-	PK	-	OK	-	WW-	51.84%	-	-	-	-	-	-	-	Retained
F	LAB	38.340	7.28	-	WK	-	YM	-	D-	25.40%	-	-	-	-	-	-	-	Retained
Y	URS	494.620	9.30	-	Wuu	-	PPP	-	LLL	74.87%	-	Zywrdsfe	1yC	92zo	92	1yB+92	-	399.00000
H-N	KYA	66.779	2.11	-	PF	-	UU	-	YYY	52.00%	-	Vrfyoizh	1eE	115kb	115	1iI+115	-	891.00000
F	CPG	48.321	7.80	-	FV	-	OU	-	BBB-	96.54%	-	-	-	-	-	-	-	Retained
B (Jbnvzj Wvvj)	EWQ	38.816	6.18	-	LT	-	WI	-	DG	8.00%	-	-	-	-	-	-	-	Retained
N	JFO	74.701	7.82	-	JR	-	FK	-	UU-	25.13%	-	Fkxdjsfj	1dO	135ou	135	1iQ+135	-	306.00000
I	YYD	52.321	9.61	-	GI	-	SB	-	WWW-	55.27%	-	Bhevrkrg	1cF	225or	275	1cN+275	-	204.00000

More Details

Filings

EX-102

Tranche Comments

Y: Registration: 144A/Yam X; H-N: Registration: 144F/Dsh F; N: Registration: 144J/Cve G; G: Registration: 144D/Zyc M; I: Registration: 144B/Flk N; F: Registration: 144A/Ahn Q; Q: Registration: 144L/Lnw V; F: Registration: 144U/Xnb Y; B (Jbnvzj Wvvj): Registration: 144W/Tpf T;

Cut-Off Balance ($mm)

939.408959

# 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
Q	GSI	69.368	2.17	-	AI	-	-	-	I-	21.00%	-	-	-	-	-	-	-	Retained
D	XOZ	775.853	1.89	-	Snn	-	-	-	PPP	76.70%	-	Izuoxhoh	1dU	85q	82	1xS+82	-	803.00000
Z-X	GGY	41.331	5.70	-	SU	-	-	-	JJJ	88.10%	-	Ajctxsth	1eM	120j	120	1zE+120	-	480.00000
J	NPV	60.859	9.13	-	WN	-	-	-	GG-	10.90%	-	Tlzuofmg	1bD	160a	160	1hK+160	-	484.00000
T	ESG	58.387	5.30	-	NI	-	-	-	GG-	23.62%	-	-	-	-	-	-	-	Retained
G	LTZ	52.534	7.77	-	GJ	-	-	-	KKK-	52.61%	-	Yuopeokq	1sF	350i	340	1oW+340	-	255.00000
X	VMY	19.331	5.60	-	MN	-	-	-	N-	86.45%	-	Hxuatynp	1kN	225b	225	1zL+225	-	106.00000
J	VLP	47.999	7.20	-	HH	-	-	-	LY	8.00%	-	-	-	-	-	-	-	Retained

More Details

Filings

EX-103

Tranche Comments

D: First Pay: 2018-03-04; Registration: 144U/Vsi X; Z-X: First Pay: 2018-03-04; Registration: 144K/Zrg K; J: First Pay: 2018-03-04; Registration: 144J/Vck V; X: First Pay: 2018-03-04; Registration: 144B/Mvo A; G: First Pay: 2018-03-04; Registration: 144G/Omx S; T: First Pay: 2018-03-04; Registration: 144F/Gly X; Q: First Pay: 2018-03-04; Registration: 144P/Cbm L; J: Registration: 144F/Els B;

Cut-Off Balance ($mm)

382.16586

# of Loans

# of Properties

WA U/W NOI Debt Yield

7.7%

Reset

Yes