Exhibit 99.1
Independent Accountants’ Agreed-Upon Procedures Report
Hilton Resorts Corporation (the “Company”)
Wells Fargo Securities, LLC (together, the “Specified Parties”)
Re: Hilton Grand Vacations Trust 2026-1 – Data File Procedures
We have performed the procedures described below on the specified attributes in an electronic data file entitled “HGVT 2026-1 Pool Cut 01.31.2026 vF Data Tape.xlsx” provided by the Company on February 27, 2026 (the “Data File”), containing
information on 19,443 timeshare loans (the “Timeshare Loans”) as of January 31, 2026, which we were informed are intended to be included as collateral in the offering by Hilton Grand Vacations Trust 2026-1. The Company is responsible for the
specified attributes identified by the Company in the Data File.
The Specified Parties have agreed to and acknowledged that the procedures performed are appropriate to meet the intended purpose of assisting specified parties in evaluating the accuracy of the specified attributes in the Data File. This report
may not be suitable for any other purpose. No other parties have agreed to or acknowledged the appropriateness of these procedures for the intended purpose or any other purpose.
The procedures performed may not address all the items of interest to a specified party of this report and may not meet the needs of all specified parties of this report and, as such, specified parties are responsible for determining whether the
procedures performed are appropriate for their purposes. We make no representation regarding the appropriateness of the procedures either for the intended purpose or for any other purpose.
Unless otherwise stated, the following definitions have been adopted in presenting our procedures and findings:
| • |
The term “compared” means compared to the information shown and found it to be in agreement, unless otherwise stated. Such compared information was deemed to be in agreement if differences were within the reporting threshold.
|
| • |
The term “recomputed” means recalculated and compared the result to the information shown and found it to be in agreement, unless otherwise stated. Such recomputed information was deemed to be in agreement if differences were within the
reporting threshold.
|
| • |
The term “reporting threshold” means that dollar amounts, percentages, and months were within $1.00, 0.1%, and 1 month, respectively.
|
| • |
The term “Sample Selection File” means an electronic data file entitled “HGVT 2026-1 Pool Cut 01.31.2026 vF.xlsx” provided by the Company on February 13, 2026, containing unique loan identification numbers and other information for
19,443 Timeshare Loans as of January 31, 2026, which we were informed are intended to be included as collateral in the offering by Hilton Grand Vacations Trust 2026-1.
|
|
KPMG LLP, a Delaware limited liability partnership, and its subsidiaries are part of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English
company limited by guarantee.
|
| • |
The term “Timeshare Contracts” means some or all of the following documents provided by the Company for each Sample Loan (defined below): promissory note, purchase agreement, purchase and security agreement, purchase proposal, truth in
lending disclosure, purchase agreement addendum, revision of terms, and/or other related documents.
|
| • |
The term “System Screenshots” means extracts of customer records (including, but not limited to, payment dates and payment amounts) that the Company informed us were extracted from its asset management systems.
|
| • |
The term “Credit Report” means a report identifying the credit score of the Timeshare Loan borrowers.
|
| • |
The term “Hilton Property Mapping Schedule” means an electronic data file entitled “HGV – Property & investor ID.xlsx” provided by the Company on July 10, 2025, and electronic mail correspondence provided by the Company on November
19, 2025, containing information on Hilton property names and consolidated property categories associated with the Timeshare Loans.
|
| • |
The term “Bluegreen Property Mapping Schedule” means the tab entitled “BXG Resort Mapping” in an electronic data file entitled “HGVT 2026-1 Pool Cut 01.31.2026 vF.xlsx” provided by the Company on February 13, 2026, containing information
on Bluegreen property names and consolidated property categories associated with the Timeshare Loans.
|
| • |
The term “Diamond Property Mapping Schedule” means electronic mail correspondence provided by the Company on November 21, 2025, containing information on Diamond property names and project IDs associated with the Timeshare Loans.
|
| • |
The term “Property Mapping Schedules” means the Hilton Property Mapping Schedule, Bluegreen Property Mapping Schedule, and Diamond Property Mapping Schedule.
|
| • |
The term “Prior Receivable Mapping Schedule” means an electronic data file entitled “SCTASK0506860_ WrappedContractLoanGuide_20260223.xlsx” provided by the Company on February 27, 2026, containing information on the identification of
related timeshare loans previously originated to the borrowers of certain Sample Diamond Loans (defined below) (the “Prior Timeshare Receivables”).
|
| • |
The term “Source Documents” means the following information provided by the Company: Timeshare Contracts, System Screenshots, Credit Report, Property Mapping Schedules, and Prior Receivable Mapping Schedule. The Source Documents were
represented by the Company to be either electronic copies of the original Source Documents and/or electronic representations of the records contained within the Company’s systems. We make no representation regarding the validity,
enforceability, authenticity, or accuracy of the information in the documents, or the documents themselves, or the execution of the Timeshare Contracts by the borrower.
|
| • |
The term “Instructions” means the instructions provided by the Company pertaining to a procedure, attribute, or methodology, as described in Exhibit A.
|
| • |
The term “Provided Information” means the Sample Selection File, Source Documents, and Instructions.
|
The procedures we were instructed by the Company to perform and the associated findings are as follows:
| A. |
We randomly selected a sample of Timeshare Loans from the Sample Selection File as follows using a random sampling tool: (i) 50 Timeshare Loans from the “HGV Selected” tab (the “Sample Hilton Loans”), (ii) 50 Timeshare Loans from the
“DRI Selected” tab (the “Sample Diamond Loans), and (iii) 50 Timeshare
|
2
Loans from the “BXG Selected” tab (the “Sample Bluegreen Loans”) for a total of 150 Timeshare Loans (together, the "Sample Loans"). A listing of the Sample Loans is attached hereto as Exhibit B. For purposes of this procedure, the Company did
not inform us of the basis they used to determine the number of Timeshare Loans we were instructed to randomly select from the Sample Selection File or the reason to select 50 Sample Loans from each tab of the Sample Selection File.
| B. |
For each Sample Loan, we compared or recomputed the specified attributes in the Data File listed below to or using the corresponding information included in the Source Documents listed below in the Provided Information column, utilizing
the Instructions, as applicable. The Company indicated that the absence of any of the information in the Source Documents or the inability to agree the indicated information from the Data File to the Source Documents for each of the
attributes identified, utilizing the Instructions as applicable, constituted an exception. The Source Documents are listed in the order of priority.
|
|
Attribute
|
Sample Hilton Loan Attribute
|
Sample Diamond Loan Attribute
|
Sample Bluegreen Loan Attribute
|
Provided Information
|
|
Loan ID
|
Loan ID
|
Loan ID
|
Loan #
|
Timeshare Contracts, System Screenshots
|
|
Borrower State
|
Borrower State
|
Borrower State
|
Cust State
|
Timeshare Contracts, System Screenshots, Instructions
|
|
Borrower Country
|
Borrower Country
|
Borrower Country
|
Owner Cntyr
|
Timeshare Contracts, System Screenshots
|
|
Property Description
|
Property Cd
|
Project ID
|
Resort Marketing Name
|
Timeshare Contracts, Property Mapping Schedules, and Instructions
|
|
Sales Price
|
Sales Price
|
Sales Price
|
Purch Price
|
Timeshare Contracts, Prior Receivable Mapping Schedule, and Instructions
|
|
Equity Transferred
|
Contr Equity Amount
|
Equity Transferred
|
N/A *
|
Timeshare Contracts, Prior Receivable Mapping Schedule, and Instructions
|
|
Original Term
|
Original Term
|
Original Term
|
Orig Term
|
Timeshare Contracts
|
|
Origination Date
|
Contr Date Sold
|
Date of Sale
|
Orig Date
|
Timeshare Contracts
|
|
Original Balance
|
Original Amt
|
Original Loan Amount
|
Orig Note
|
Timeshare Contracts
|
|
Cash Down Payment
|
Cash Down Payment
|
Cash Down Payment
|
Dwn Pymt
|
Timeshare Contracts, Prior Receivable Mapping Schedule, and Instructions
|
|
Interest Rate
|
Interest Rate
|
Interest Rate
|
Int Rate
|
Timeshare Contracts, System Screenshots
|
|
Maturity Date
|
Maturity Date
|
Maturity Date
|
Mat Date
|
Timeshare Contracts, System Screenshots, and Instructions
|
|
Remaining Term
|
Remaining Term
|
Remaining Term
|
Remaining Term
|
Timeshare Contracts, System Screenshots, and Instructions
|
|
Principal & Interest Payment
|
Principal & Interest Payment
|
Principal & Interest Payment
|
Mly Pymt
|
Timeshare Contracts, System Screenshots
|
|
Service Fee
|
Service Fee
|
N/A *
|
N/A *
|
Timeshare Contracts, and Instructions
|
|
Next Payment Date
|
Due Date
|
Next Payment Date
|
Next Due
|
System Screenshots
|
|
Current Balance
|
Principal Bal
|
Principal Balance
|
Curr Prin
|
System Screenshots
|
3
|
Attribute
|
Sample Hilton Loan Attribute
|
Sample Diamond Loan Attribute
|
Sample Bluegreen Loan Attribute
|
Provided Information
|
|
Original Credit Score (Highest)
|
High Score
|
High Credit Score
|
Credit
|
Credit Report and Instructions
|
|
Days Delinquent
|
Days Delinquent
|
Days Delinquent
|
Days Delq
|
System Screenshots and Instructions
|
|
Wrap Pay Down
|
N/A *
|
Wrap Pay Down
|
N/A *
|
System Screenshots, Prior Receivable Mapping Schedule, and Instructions
|
| * |
Not Applicable. Per the Instructions, no procedures were performed for the attributes and the Sample Loans referenced.
|
We found such information to be in agreement except as listed in Exhibit C.
We were engaged by the Company to perform this agreed-upon procedures engagement. We conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants, which involves us
performing the specific procedures agreed to and acknowledged above and reporting on findings based on performing those procedures. We were not engaged to, and did not, conduct an examination or review, the objective of which would be the
expression of an opinion or conclusion, respectively, on the specified attributes in the Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention
that would have been reported.
We are required to be independent of the Company” and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.
The procedures performed were applied based on the information included in Data File and Provided Information, without verification or evaluation of such information by us; therefore, we express no opinion or any other form of assurance
regarding (i) the reasonableness of the information provided to us by the Company, (ii) the physical existence of the Timeshare Loans, (iii) the reliability or accuracy of the Provided Information which was used in our procedures, or (iv) matters
of legal interpretation.
The procedures performed were not intended to address, nor did they address: (i) the conformity of the origination of the Timeshare Loans to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) the
value of collateral securing any such Timeshare Loans being securitized, (iii) the compliance of the originator of the Timeshare Loans with federal, state, and local laws and regulations, or (iv) any other factor or characteristic of the Timeshare
Loans that would be material to the likelihood that the issuer of the asset-backed notes will pay interest and principal in accordance with applicable terms and conditions.
The procedures performed were not intended to satisfy any criteria for due diligence published by the nationally recognized statistical rating organizations (“NRSROs”).
The terms of our engagement are such that we have no responsibility to update this report because of events and circumstances that may subsequently occur.
This report is intended solely for the information and use of the Specified Parties. It is not intended to be and should not be used by any other person or entity, including investors or the NRSROs, who are not identified in the report as the
Specified Parties but may have access to this report as required by law or regulation.
/s/KPMG LLP
Irvine, California
March 27, 2026
4
Exhibit A
Instructions
|
Number
|
Attribute
|
Instruction
|
|
1.
|
Borrower State
|
Do not perform this procedure for Sample Loans for which the Data File value for Borrower Country is not “United States.”
|
|
2.
|
Property Description
|
For each Sample Loan, consider the Data File and Provided Information value to be in agreement if differences are due to punctuation and/or the truncation of property descriptions in the Data File.
|
|
3.
|
Sales Price
|
For each Sample Diamond Loan, recompute as the sum of the Sales Price in the Timeshare Contract and each related Prior Timeshare Receivable listed in the Prior Receivable Mapping Schedule.
|
|
4.
|
Equity Transferred
|
For each Sample Diamond Loan, recompute as the sum of the Equity Transferred in the Timeshare Contract and Equity Transferred for each related Prior Timeshare Receivable listed in the Prior Receivable Mapping Schedule, plus Wrap Pay
Down.
Do not perform this procedure for Sample Bluegreen Loans.
|
|
5.
|
Cash Down Payment
|
For each Sample Hilton Loan, recompute as the sum of:
a. the difference between (i) total down payment and (ii) closing costs in the Timeshare Contract, and
b. balance down payment in the Timeshare Contract.
For each Sample Diamond Loan, recompute as the difference between:
a. the sum of down payments in the Timeshare Contract and for all related Prior Timeshare Receivables listed in the Prior Receivable Mapping Schedule, and
b. the sum of non-trade in credits received in the Timeshare Contract and for all related Prior Timeshare Receivables listed in the Prior Receivable Mapping Schedule.
|
|
6.
|
Maturity Date
|
For each Sample Loan, if Maturity Date was not observed in the Timeshare Contract, recompute as the date equal to:
a. first payment date in the Timeshare Contract or System Screenshot
b. plus the Original Term number of months in the Timeshare Contract
c. minus one (1) month.
|
|
7.
|
Remaining Term
|
For each Sample Loan, recompute as the number of remaining payment periods using Interest Rate, Principal and Interest Payment, and Current Balance from the Source Documents, rounded up to the nearest whole number (but in no case more
than 180).
|
5
|
Number
|
Attribute
|
Instruction
|
|
8.
|
Service Fee
|
Do not perform this procedure for Sample Diamond Loans or Sample Bluegreen Loans.
|
|
9.
|
Original Credit Score (Highest)
|
Do not perform this procedure for Sample Loans for which the Data File value is blank or zero.
|
|
10.
|
Days Delinquent
|
Recompute as the difference between (but in no case less than zero):
a. January 31, 2026, and
b. Next Payment Date in the System Screenshots
|
|
11.
|
Wrap Pay Down
|
For Sample Diamond Loans for which the Data File value is greater than zero:
1. inspect the System Screenshots for related Prior Timeshare Receivables listed in the Prior Receivable Mapping File, if there are either:
(i) two (2) “original amount” transaction descriptions dated within 31 days of each other, or
(ii) an “original amount” transaction description dated before February 1, 2020, for a Prior Timeshare Receivable with a “upgrade/wrap write off principal” transaction description,
then, recompute the difference between:
a. the sum of principal amounts in the System Screenshots for all related Prior Timeshare Receivables, and
b. the sum of upgrade/wrap write off principal amounts in the System Screenshots for all related Prior Timeshare Receivables
2. otherwise, recompute as the difference between:
a. the sum principal amounts in the System Screenshots, and
b. the sum of upgrade/wrap write off principal amounts in the System Screenshots
for the related Prior Timeshare Receivable listed in the Prior Receivable Mapping Schedule with the most recent sales date.
Do not perform this procedure for Sample Diamond Loans for which the Data File value is zero, or for Sample Hilton Loans or Sample Bluegreen Loans.
|
6
Exhibit B
The Sample Loans Sample Hilton Loans
|
Sample Loan ID
|
Company Account Number**
|
Sample Loan ID
|
Company Account Number**
|
Sample Loan ID
|
Company Account Number**
|
Sample Loan ID
|
Company Account Number**
|
|
1
|
2026060297
|
13
|
2026860090
|
25
|
2026770037
|
38
|
2026120088
|
|
2
|
2026710069
|
14
|
2026920068
|
26
|
2026240034
|
39
|
2026480082
|
|
3
|
2026630045
|
15
|
2026170068
|
27
|
2026770034
|
40
|
2026520156
|
|
4
|
2026520052
|
16
|
2026080043
|
28
|
2026640280
|
41
|
2026730043
|
|
5
|
2026350048
|
17
|
2026140064
|
29
|
2026360280
|
42
|
2026780043
|
|
6
|
2026360156
|
18
|
2026120086
|
30
|
2026710039
|
43
|
2026560043
|
|
7
|
2026870156
|
19
|
2026380090
|
31
|
2026850037
|
44
|
2026070068
|
|
8
|
2026370084
|
20
|
2026370039
|
32
|
2026580085
|
45
|
2026570064
|
|
9
|
2026720039
|
21
|
2026800064
|
33
|
2026910069
|
46
|
2026090068
|
|
10
|
2026700039
|
22
|
2026960064
|
34
|
2026880048
|
47
|
2026510048
|
|
11
|
2026960275
|
23
|
2026010090
|
35
|
2026070090
|
48
|
2026120039
|
|
12
|
2026930086
|
24
|
2026290086
|
36
|
2026290069
|
49
|
2026780039
|
|
37
|
2026250030
|
50
|
2026820039
|
** The Company has assigned a unique account number to each Timeshare Loan in the Data File. The Company’s Account Numbers referred to in this Exhibit are not the actual account numbers.
7
Sample Diamond Loans
|
Sample Loan ID
|
Company Account Number**
|
Sample Loan ID
|
Company Account Number**
|
Sample Loan ID
|
Company Account Number**
|
Sample Loan ID
|
Company Account Number**
|
|
51
|
202672184
|
63
|
202679961
|
75
|
202636842
|
88
|
202683855
|
|
52
|
202607991
|
64
|
202681721
|
76
|
202637224
|
89
|
202684723
|
|
53
|
202680870
|
65
|
202683278
|
77
|
202638048
|
90
|
202689223
|
|
54
|
202633577
|
66
|
202686670
|
78
|
202639090
|
91
|
202689371
|
|
55
|
202646605
|
67
|
202686910
|
79
|
202639644
|
92
|
202689653
|
|
56
|
202664709
|
68
|
202687162
|
80
|
202640120
|
93
|
202690165
|
|
57
|
202665431
|
69
|
202690842
|
81
|
202640966
|
94
|
202692243
|
|
58
|
202668236
|
70
|
202697408
|
82
|
202641178
|
95
|
202692363
|
|
59
|
202669290
|
71
|
202627918
|
83
|
202642400
|
96
|
202692957
|
|
60
|
202676976
|
72
|
202629194
|
84
|
202691147
|
97
|
202693703
|
|
61
|
202678277
|
73
|
202630344
|
85
|
202601909
|
98
|
202697117
|
|
62
|
202679443
|
74
|
202634962
|
86
|
202678059
|
99
|
202697231
|
|
87
|
202680693
|
100
|
202697943
|
** The Company has assigned a unique account number to each Timeshare Loan in the Data File. The Company’s Account Numbers referred to in this Exhibit are not the actual account numbers.
8
Sample Bluegreen Loans
|
Sample Loan ID
|
Company Account Number**
|
Sample Loan ID
|
Company Account Number**
|
Sample Loan ID
|
Company Account Number**
|
Sample Loan ID
|
Company Account Number**
|
|
101
|
20268942
|
113
|
20261708
|
125
|
20269345
|
138
|
20263258
|
|
102
|
20263308
|
114
|
20261793
|
126
|
20264462
|
139
|
20265156
|
|
103
|
20265111
|
115
|
20262470
|
127
|
20265393
|
140
|
20265304
|
|
104
|
20267920
|
116
|
20262730
|
128
|
20265497
|
141
|
20266093
|
|
105
|
20268149
|
117
|
20262932
|
129
|
20266464
|
142
|
20266379
|
|
106
|
20268274
|
118
|
20264339
|
130
|
20267725
|
143
|
20266653
|
|
107
|
20268988
|
119
|
20264993
|
131
|
20267774
|
144
|
20267149
|
|
108
|
20269273
|
120
|
20265547
|
132
|
20260370
|
145
|
20267213
|
|
109
|
20269286
|
121
|
20266088
|
133
|
20260665
|
146
|
20267356
|
|
110
|
20260380
|
122
|
20266611
|
134
|
20261497
|
147
|
20268039
|
|
111
|
20260548
|
123
|
20268182
|
135
|
20261733
|
148
|
20260933
|
|
112
|
20261013
|
124
|
20269245
|
136
|
20262320
|
149
|
20261095
|
|
137
|
20262927
|
150
|
20261431
|
** The Company has assigned a unique account number to each Timeshare Loan in the Data File. The Company’s Account Numbers referred to in this Exhibit are not the actual account numbers.
9
Exhibit C
Exception
|
Sample Loan ID
|
Company Account Number
|
Attribute
|
Per Data File
|
Per Provided Information
|
|
28
|
2026640280
|
Original Credit Score (Highest)
|
537
|
594
|
10