NewtekOne, Inc. closed a $295 million securitization backed by $342 million of Alternative Loan Program loans. This marks the company’s fourth asset-backed securitization and 17th rated securitization. The securitization was oversubscribed, with 32 institutions purchasing the Notes. The Class A Notes received a Morningstar DBRS rating of “A (low) (sf)” at a yield of 5.796%. ALP loans are viewed by the company as longer amortizing C&I loans. Since originating $850 million of ALP loans since 2019, the company has only experienced six defaults and one charge-off. The company aims to continue issuing securitizations backed by ALP loans.

Read more at GlobeNewswire: NewtekOne, Inc. Closes ALP Loan Securitization with Sale of