Trailblazer: Caliber Home Loans markets first non-prime mortgage bond

There are pros and cons to this deal. Nearly half of the borrowers show a prior credit event, including foreclosure, bankruptcy, short sale or deed in lieu of foreclosure. However, the average borrower holds $230,000 in liquid reserves. And Fitch said there are some concerns on the issuer side as well, which limited the strength of the rating; the highest pool is single-A.