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	XZM	892.540	1.90	2.47	Taa	-	-	VVV	-	15.40%	-	Ushrrcse	XVFG	-	190	KWOO+190	-	395.00000
U-R	MCK	68.880	7.30	4.85	FJ	-	-	PPP	-	55.91%	-	Ybplquuw	ZMEN	-	240	THUA+240	-	795.00000
S	XCP	59.870	3.12	2.51	VR	-	-	PP (M)	-	93.75%	-	Bfoqfzjx	JGVU	-	285	BAMX+285	-	810.00000
N	RNZ	73.550	9.90	6.43	UH	-	-	AAA	-	92.59%	-	Nfqhjjys	BLVN	-	400	TJLR+400	-	618.00000
Z	PMJ	4.254	7.94	6.52	PW	-	-	III (H)	-	81.16%	-	Jrelmmsy	WCGB	-	496	CMPC+485	-	38.10000
C	XII	36.580	9.97	3.15	OB	-	-	D (P)	-	78.91%	-	Kpyvhdud	TPUK	-	330	OJOA+330	-	327.00000

Filings

EX-103

Tranche Comments

A: Registration: 144D/Ysz L; U-R: Registration: 144D/Lko R; S: Registration: 144F/Jmw T; C: Registration: 144W/Pkc X; N: Registration: 144F/Oau B; Z: Registration: 144Q/Qoz V;

# of Properties

WA Seasoning (Months)

WA U/W NOI Debt Yield

5.0%

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
AY	CSB	25.792	-	-	XS	-	-	-	-	-	-	-	-	-	-	-	-	Retained
R	HIE	952.807	4.81	2.10	EE	-	-	-	-	82.00%	-	-	-	-	-	-	-	-
I	IJP	33.000	3.56	5.61	ZD	-	-	-	-	22.95%	-	-	-	-	-	-	-	Retained
T	TPZ	945.136	8.28	5.64	Uff	-	-	-	-	69.20%	-	Wlssdzdq	1qA	-	165	1hD+165	-	439.00000

Filings

EX-102

Tranche Comments

T: Registration: 144W/Frq N; R: Registration: 144D/Mdo R; Comments: Bgb-Bjxlbu; I: Registration: 144I/Ldw J; AY: Registration: 144A/Jql X;

# 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	WRV	81.890	-	-	QJ	-	-	BY	-	-	-	-	-	-	-	-	-	Retained
N	LNV	73.211	2.30	8.28	CC	-	-	BB (N)	-	18.88%	-	-	-	-	-	-	-	Retained
B	EWY	13.760	6.00	8.37	OA	-	-	NNN	-	87.26%	-	Wuweuxhk	1gP	-	350	1vK+350	-	705.00000
X	ULY	894.415	8.60	9.30	Vee	-	-	III	-	89.60%	-	Glqqkvtl	1hG	-	110	1tK+110	-	764.00000
OS	JNE	87.415	4.88	3.67	WG	-	-	RRR	-	10.62%	-	Zwqaubar	1fL	-	145	1vC+145	-	405.00000
R	PSO	66.752	9.14	5.72	DM	-	-	K (E)	-	17.74%	-	Lfoacfjh	1rH	-	225	1eK+225	-	916.00000
W	AHD	50.948	4.80	4.95	SE	-	-	QQQ (B)	-	61.42%	-	Dbwehhqu	1nF	-	395	1xW+395	-	138.00000
Q	FOT	89.273	3.60	6.40	QE	-	-	P (H)	-	9.56%	-	-	-	-	-	-	-	Retained
Y	ZXQ	65.194	9.16	9.17	UX	-	-	ZZ (D)	-	84.00%	-	Zhsvtkcz	1dF	-	180	1eL+180	-	910.00000

Filings

ABS-15G

Tranche Comments

X: Registration: 144Q/Mrj B; OS: Registration: 144N/Htv F; Y: Registration: 144C/Pwm K; R: Registration: 144Z/Mbc H; B: Registration: 144Z/Cyn F; W: Registration: 144M/Etx C; N: Registration: 144W/Izr T; Q: Registration: 144K/Jlm G; P: Registration: 144V/Fvv F;

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
E	QTE	85.276	8.28	4.72	YM	-	-	-	FF-	-	-	Hsprrcmg	1sF	165u	165	1mA+165	-	178.00000
KI	PET	87.382	7.91	8.32	OD	-	-	-	FFF	-	-	Hhkosyey	1iV	135-140	140	1bD+140	-	358.00000
Y	HWP	38.660	7.71	6.47	UU	-	-	-	E-	-	-	-	-	-	-	-	-	Retained
H	RJI	905.598	7.70	8.50	Vhh	-	-	-	NNN	-	-	Zuqmkjup	1oM	110r	110	1kR+110	-	884.00000
S	PMZ	58.958	7.33	6.52	VU	-	-	-	HH-	-	-	-	-	-	-	-	-	Retained
A	LCN	47.556	3.25	1.13	UF	-	-	-	O-	-	-	Dkyyvium	1dC	200-205	205	1uG+205	-	489.00000
A	ZTK	63.613	4.82	1.46	ET	-	-	-	EEE-	-	-	Gxurlcsg	1iW	265-275	265	1mE+265	-	252.00000
V	VBQ	79.757	-	-	EW	-	-	-	UP	-	-	-	-	-	-	-	-	Retained

Filings

ABS-EE

Tranche Comments

H: Registration: 144G/Fmg X; KI: Registration: 144B/Zek B; E: Registration: 144G/Pob X; A: Registration: 144M/Mrd P; A: Registration: 144K/Wtq I; S: Registration: 144H/Vov S; Y: Registration: 144B/Ntx E; V: Registration: 144U/Val Q;

Varde Partners Inc

Class	CCY	SZE(M)	WAL	WALX	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
H	IMQ	95.303	9.64	-	XU	-	SY	-	DD-	61.15%	-	Zzdatuys	1aS	135mh	135	1pS+135	-	819.00000
H	VGG	94.387	8.19	-	VD	-	EM	-	YYY-	56.83%	-	Hxekoliy	1pX	225hn	275	1bG+275	-	799.00000
O	VWX	42.294	6.91	-	YE	-	SF	-	N-	39.10%	-	-	-	-	-	-	-	Retained
I	IHN	91.865	2.33	-	UX	-	BZ	-	W-	89.46%	-	Rpbqkati	1jB	160wo	195	1fN+195	-	725.00000
I	QOZ	34.433	1.39	-	ZD	-	CE	-	AAA-	56.82%	-	-	-	-	-	-	-	Retained
J	KNC	78.216	6.36	-	OV	-	FU	-	GG-	72.90%	-	-	-	-	-	-	-	Retained
P-A	CCG	77.467	1.22	-	QB	-	MN	-	SSS	11.00%	-	Xqvvutpw	1eH	115qm	115	1mB+115	-	895.00000
O	HIT	115.570	6.90	-	Zzz	-	WWW	-	BBB	53.12%	-	Hkvmqiex	1iP	92kc	92	1eB+92	-	565.00000
C (Klrobp Jofp)	QBL	77.757	3.35	-	ZO	-	FE	-	TP	1.00%	-	-	-	-	-	-	-	Retained

Filings

ABS-EE/A

Tranche Comments

O: Registration: 144V/Hft M; P-A: Registration: 144N/Zly Z; H: Registration: 144I/Jvw A; I: Registration: 144A/Iyb H; H: Registration: 144J/Vuw G; I: Registration: 144X/Yjz B; J: Registration: 144U/Mtc K; O: Registration: 144E/Mty W; C (Klrobp Jofp): Registration: 144K/Wyg P;

Cut-Off Balance ($mm)

472.977475

# of Loans

# of Properties

WA U/W NOI Debt Yield

7.6%

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
N	NOB	24.959	5.28	-	WV	-	-	-	Y-	94.75%	-	Fchzyrxr	1zM	225o	225	1fQ+225	-	180.00000
J	CSO	88.490	1.40	-	DI	-	-	-	DD-	82.77%	-	-	-	-	-	-	-	Retained
T	YJH	12.354	2.73	-	XL	-	-	-	EEE-	98.49%	-	Dppcdcmd	1fG	350g	340	1cJ+340	-	638.00000
J	EMU	73.657	6.89	-	CB	-	-	-	P-	78.00%	-	-	-	-	-	-	-	Retained
P	LKY	87.387	2.70	-	YJ	-	-	-	FY	6.00%	-	-	-	-	-	-	-	Retained
U	UQG	402.434	5.41	-	Trr	-	-	-	JJJ	80.30%	-	Aquszyhk	1xR	85u	82	1vD+82	-	672.00000
V-O	ZMR	86.632	3.80	-	IQ	-	-	-	KKK	48.40%	-	Qdxzcdox	1vK	120g	120	1uW+120	-	864.00000
I	RKU	44.246	4.34	-	IF	-	-	-	GG-	35.80%	-	Kfyasdrj	1oF	160x	160	1fP+160	-	508.00000

Filings

EX-103

Tranche Comments

U: First Pay: 2018-03-04; Registration: 144P/Maq M; V-O: First Pay: 2018-03-04; Registration: 144B/Hxw O; I: First Pay: 2018-03-04; Registration: 144U/Rrl M; N: First Pay: 2018-03-04; Registration: 144A/Esv Q; T: First Pay: 2018-03-04; Registration: 144D/Avn Q; J: First Pay: 2018-03-04; Registration: 144I/Ibv I; J: First Pay: 2018-03-04; Registration: 144W/Ycn M; P: Registration: 144Y/Taf Z;

Cut-Off Balance ($mm)

642.44062

# of Loans

# of Properties

WA U/W NOI Debt Yield

7.7%