KBRA Assigns Preliminary Scores to Sequoia Mortgage Belief 2021-6 (SEMT 2021-6)

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NEW YORK–(BUSINESS WIRE)–Kroll Bond Ranking Company (KBRA) assigns preliminary rankings to 55 courses of mortgage pass-through certificates from Sequoia Mortgage Belief 2021-6 (SEMT 2021-6), a main RMBS transaction. SEMT 2021-6 comprises 100% QM (Secure Harbor) non-conforming mortgage loans, with 75.0% of the pool originated to QM 1.0 and categorized as QM Secure Harbor, and roughly 25.0% of the loans had been designated as QM Secure Harbor (APOR) underneath QM 2.0.

The SEMT 2021-6 mortgage pool consists of 497 first-lien mortgage loans with an mixture principal stability of $448,877,761 as of the deadline. The underlying collateral consists totally of fully-amortizing, fixed-rate mortgages. The pool is characterised by substantial borrower fairness in every mortgaged property, as evidenced by the WA unique LTV of 67.5% and WA unique CLTV of 67.6%. The weighted common unique credit score rating is 773, which is throughout the prime mortgage vary.

KBRA’s ranking method integrated loan-level evaluation of the mortgage pool by its KBRA RMBS Credit score Mannequin, an examination of the outcomes from third-party mortgage file due diligence, money movement modeling evaluation of the transaction’s fee construction, critiques of key transaction events and an evaluation of the transaction’s authorized construction and documentation. This evaluation is additional described in our U.S. RMBS Ranking Methodology.

Click on right here to view the report. To entry rankings and related paperwork, click on right here.

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Additional data on key credit score issues, sensitivity analyses that take into account what elements can have an effect on these credit score rankings and the way they may result in an improve or a downgrade, and ESG elements (the place they’re a key driver behind the change to the credit standing or ranking outlook) may be discovered within the full ranking report referenced above.

An outline of all considerably materials sources that had been used to arrange the credit standing and knowledge on the methodology(ies) (inclusive of any materials fashions and sensitivity analyses of the related key ranking assumptions, as relevant) utilized in figuring out the credit standing is on the market within the Data Disclosure Type(s) situated right here.

Data on the that means of every ranking class may be situated right here.

Additional disclosures regarding this ranking motion can be found within the Data Disclosure Type(s) referenced above. Extra data relating to KBRA insurance policies, methodologies, ranking scales and disclosures can be found at www.kbra.com.

About KBRA

Kroll Bond Ranking Company, LLC (KBRA) is a full-service credit standing company registered with the U.S. Securities and Alternate Fee as an NRSRO. Kroll Bond Ranking Company Europe Restricted is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Ranking Company UK Restricted is registered as a CRA with the UK Monetary Conduct Authority pursuant to the Short-term Registration Regime. As well as, KBRA is designated as a delegated ranking group by the Ontario Securities Fee for issuers of asset-backed securities to file a brief type prospectus or shelf prospectus. KBRA can be acknowledged by the Nationwide Affiliation of Insurance coverage Commissioners as a Credit score Ranking Supplier.

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