Press Release

DBRS Confirms Ratings of U.S. ABS Transactions

Other

May 12, 2015

DBRS, Inc. (DBRS) has conducted a review of 12 publicly rated U.S. structured finance asset-backed securities transactions that are currently outstanding. All of the 22 publicly rated classes reviewed were confirmed, as credit enhancement levels are sufficient to cover DBRS’s expected losses at their current respective rating levels.

The following public transactions were reviewed:

-- J.G. Wentworth XXIII LLC Fixed Rate Asset-Backed Notes, Series 2011-1
-- JGWPT XXIV LLC Fixed Rate Asset-Backed Notes, Series 2011-2
-- JGWPT XXV LLC Fixed Rate Asset-Backed Notes, Series 2012-1
-- JGWPT XXVI LLC Fixed Rate Asset-Backed Notes, Series 2012-2
-- JGWPT XXVII LLC Fixed Rate Asset-Backed Notes, Series 2012-3
-- JGWPT XXVIII LLC Fixed Rate Asset-Backed Notes, Series 2013-1
-- Novation Ventures 2013-A Structured Settlement Notes
-- JGWPT XXIX LLC Fixed Rate Asset-Backed Notes, Series 2013-2
-- JGWPT XXX LLC Fixed Rate Asset-Backed Notes, Series 2013-3
-- JGWPT XXXI LLC Fixed Rate Asset-Backed Notes, Series 2014-1
-- NV Funding LLC, Series 2014-A Fixed Rate Asset Backed Notes
-- JGWPT XXXII LLC Fixed Rate Asset-Backed Notes, Series 2014-2

Notes:
The applicable methodologies are the DBRS Master U.S. ABS Surveillance Methodology, Rating U.S. Structured Settlements Asset-Backed Securitizations and Rating CLOs and CDOs of Large Corporate Credit, which can be found on our website under Methodologies.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

Ratings

J.G. Wentworth XXIII LLC Fixed Rate Asset-Backed Notes, Series 2011-1

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-May-15	Series 2011-1 Notes, Class A	AAA (sf)	--	Confirmed	US
12-May-15	Series 2011-1 Notes, Class B	A (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-May-15	Class A	AAA (sf)	--	Confirmed	US
12-May-15	Class B	BBB (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-May-15	Class A	AAA (sf)	--	Confirmed	US
12-May-15	Class B	BBB (high) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-May-15	Class A	AAA (sf)	--	Confirmed	US
12-May-15	Class B	BBB (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-May-15	Class A	AAA (sf)	--	Confirmed	US
12-May-15	Class B	BBB (high) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-May-15	Class A	AAA (sf)	--	Confirmed	US
12-May-15	Class B	A (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-May-15	Class A	AAA (sf)	--	Confirmed	US
12-May-15	Class B	BBB (high) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-May-15	Class A	AAA (sf)	--	Confirmed	US
12-May-15	Class B	BBB (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-May-15	Class A	AAA (sf)	--	Confirmed	US
12-May-15	Class B	BBB (high) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-May-15	Class A	AAA (sf)	--	Confirmed	US
12-May-15	Class B	BBB (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-May-15	Series 2013, Class A Notes	A (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
12-May-15	Series 2014, Class A Notes	A (sf)	--	Confirmed	US

J.G. Wentworth XXIII LLC Fixed Rate Asset-Backed Notes, Series 2011-1

Series 2011-1 Notes, Class A

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Series 2011-1 Notes, Class B

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

JGWPT XXIV LLC Fixed Rate Asset-Backed Notes, Series 2011-2

Class A

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Class B

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

JGWPT XXIX LLC Fixed Rate Asset-Backed Notes, Series 2013-2

Class A

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Class B

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

JGWPT XXV LLC Fixed Rate Asset-Backed Notes, Series 2012-1

Class A

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Class B

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

JGWPT XXVI LLC Fixed Rate Asset-Backed Notes, Series 2012-2

Class A

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Class B

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

JGWPT XXVII LLC Fixed Rate Asset-Backed Notes, Series 2012-3

Class A

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Class B

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

JGWPT XXVIII LLC Fixed Rate Asset-Backed Notes, Series 2013-1

Class A

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Class B

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

JGWPT XXX LLC Fixed Rate Asset-Backed Notes, Series 2013-3

Class A

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Class B

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

JGWPT XXXI LLC Fixed Rate Asset-Backed Notes, Series 2014-1

Class A

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Class B

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

JGWPT XXXII LLC Fixed Rate Asset-Backed Notes, Series 2014-2

Class A

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Class B

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

NV Funding LLC

Series 2013, Class A Notes

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

NV Funding LLC, Series 2014-A

Series 2014, Class A Notes

Date Issued:May 12, 2015
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.

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