Latest news with #RMBS
Yahoo
a day ago
- Business
- Yahoo
KBRA Assigns Preliminary Ratings to Sequoia Mortgage Trust 2025-6 (SEMT 2025-6)
NEW YORK, June 04, 2025--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 60 classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2025-6 (SEMT 2025-6), a $484.8 million prime RMBS transaction. The pool is comprised of 405 first-lien, fully amortizing fixed rate mortgages with 15-year and 30-year maturity terms. The collateral is characterized by a weighted average (WA) original credit score of 779 and moderate borrower equity, with a WA original LTV of 70.3% and WA original CLTV of 70.4%. KBRA's rating approach incorporated loan-level analysis of the mortgage pool through its Residential Asset Loss Model (REALM), an examination of the results from third-party loan file due diligence, cash flow modeling analysis of the transaction's payment structure, reviews of key transaction parties and an assessment of the transaction's legal structure and documentation. This analysis is further described in our U.S. RMBS Rating Methodology. To access ratings and relevant documents, click here. Click here to view the report. Related Publications RMBS KCAT Sequoia Mortgage Trust 2025-6 (SEMT 2025-6) Tear Sheet Methodologies RMBS: U.S. RMBS Rating Methodology Structured Finance: Global Structured Finance Counterparty Methodology ESG Global Rating Methodology Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009776 View source version on Contacts Analytical Contacts Minxi Qiu, Director (Lead Analyst)+1 Colleen Kelley, Senior Analyst+1 Sharif Mahdavian, Managing Director (Rating Committee Chair)+1 Business Development Contact Daniel Stallone, Managing Director+1 Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
KBRA Assigns Preliminary Ratings to PMT Loan Trust 2025-INV6 (PMTLT 2025-INV6)
NEW YORK, June 04, 2025--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 62 classes of mortgage backed notes from PMT Loan Trust 2025-INV6 (PMTLT 2025-INV6), a prime RMBS transaction sponsored by PennyMac Corp. (PennyMac), an indirect, wholly-owned subsidiary of PennyMac Mortgage Investment Trust (PMT). PMTLT 2025-INV6 comprises 924 fixed-rate mortgages (FRMs) with an aggregate principal balance of $345.7 million as of the June 1, 2025 cut-off date. The underlying pool consists of agency-eligible loans that are collateralized by investment properties (78.2%) and second homes (21.8%). The pool is characterized by significant borrower equity in each mortgaged property, as evidenced by the WA original LTV of 74.6%. The weighted average original credit score is 777, which is well within the prime mortgage range. KBRA's rating approach incorporated loan-level analysis of the mortgage pool through its Residential Asset Loss Model (REALM), an examination of the results from third-party loan file due diligence, cash flow modeling analysis of the transaction's payment structure, reviews of key transaction parties and an assessment of the transaction's legal structure and documentation. This analysis is further described in our U.S. RMBS Rating Methodology. To access ratings and relevant documents, click here. Click here to view the report. Related Publications PMTLT 2025-INV6 Tear Sheet RMBS KCAT Methodologies RMBS: U.S. RMBS Rating Methodology Structured Finance: Global Structured Finance Counterparty Methodology ESG Global Rating Methodology Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009762 View source version on Contacts Analytical Contacts Sharif Mahdavian, Managing Director (Lead Analyst)+1 Genki Ono, Senior Analyst+1 Colleen Kelley, Senior Analyst+1 Patrick Gervais, Senior Managing Director (Rating Committee Chair)+1 Business Development Contact Daniel Stallone, Managing Director+1
Business Wire
a day ago
- Business
- Business Wire
KBRA Assigns Preliminary Ratings to PMT Loan Trust 2025-INV6 (PMTLT 2025-INV6)
NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 62 classes of mortgage backed notes from PMT Loan Trust 2025-INV6 (PMTLT 2025-INV6), a prime RMBS transaction sponsored by PennyMac Corp. (PennyMac), an indirect, wholly-owned subsidiary of PennyMac Mortgage Investment Trust (PMT). PMTLT 2025-INV6 comprises 924 fixed-rate mortgages (FRMs) with an aggregate principal balance of $345.7 million as of the June 1, 2025 cut-off date. The underlying pool consists of agency-eligible loans that are collateralized by investment properties (78.2%) and second homes (21.8%). The pool is characterized by significant borrower equity in each mortgaged property, as evidenced by the WA original LTV of 74.6%. The weighted average original credit score is 777, which is well within the prime mortgage range. KBRA's rating approach incorporated loan-level analysis of the mortgage pool through its Residential Asset Loss Model (REALM), an examination of the results from third-party loan file due diligence, cash flow modeling analysis of the transaction's payment structure, reviews of key transaction parties and an assessment of the transaction's legal structure and documentation. This analysis is further described in our U.S. RMBS Rating Methodology. To access ratings and relevant documents, click here. Click here to view the report. Related Publications Methodologies Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009762
Business Wire
7 days ago
- Business
- Business Wire
KBRA Assigns Preliminary Ratings to OBX 2025-NQM10 Trust
NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to six classes of mortgage-backed notes from OBX 2025-NQM10 Trust, a $623.6 million non-prime RMBS transaction. The underlying collateral, comprising 1,083 residential mortgages, is characterized by a notable concentration of alternative income documentation (92.3%) loans. Most of the loans are classified as non-qualified mortgages (Non-QM) (44.2%) or exempt (47.1%) from the Ability-to-Repay/Qualified Mortgage (ATR/QM) rule due to being originated for non-consumer loan purposes. KBRA's rating approach incorporated loan-level analysis of the mortgage pool through its Residential Asset Loss Model (REALM), an examination of the results from third-party loan file due diligence, cash flow modeling analysis of the transaction's payment structure, reviews of key transaction parties and an assessment of the transaction's legal structure and documentation. This analysis is further described in our U.S. RMBS Rating Methodology. To access ratings and relevant documents, click here. Click here to view the report. Related Publications Methodologies RMBS: U.S. RMBS Rating Methodology Structured Finance: Global Structured Finance Counterparty Methodology ESG Global Rating Methodology Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009622
Yahoo
7 days ago
- Business
- Yahoo
KBRA Assigns Preliminary Ratings to OBX 2025-NQM10 Trust
NEW YORK, May 29, 2025--(BUSINESS WIRE)--KBRA assigns preliminary ratings to six classes of mortgage-backed notes from OBX 2025-NQM10 Trust, a $623.6 million non-prime RMBS transaction. The underlying collateral, comprising 1,083 residential mortgages, is characterized by a notable concentration of alternative income documentation (92.3%) loans. Most of the loans are classified as non-qualified mortgages (Non-QM) (44.2%) or exempt (47.1%) from the Ability-to-Repay/Qualified Mortgage (ATR/QM) rule due to being originated for non-consumer loan purposes. KBRA's rating approach incorporated loan-level analysis of the mortgage pool through its Residential Asset Loss Model (REALM), an examination of the results from third-party loan file due diligence, cash flow modeling analysis of the transaction's payment structure, reviews of key transaction parties and an assessment of the transaction's legal structure and documentation. This analysis is further described in our U.S. RMBS Rating Methodology. To access ratings and relevant documents, click here. Click here to view the report. Related Publications OBX 2025-NQM10 Trust Tear Sheet RMBS KCAT Methodologies RMBS: U.S. RMBS Rating Methodology Structured Finance: Global Structured Finance Counterparty Methodology ESG Global Rating Methodology Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009622 View source version on Contacts Analytical Contacts Armine Karajyan, Senior Director (Lead Analyst)+1 Liam Vauk, Associate+1 Abou Traore, Associate Director+1 Edward DeVito, Senior Managing Director (Rating Committee Chair)+1 Business Development Contact Daniel Stallone, Managing Director+1 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
