KBRA Assigns Preliminary Ratings to RCKT Mortgage Trust 2024-CES5 (RCKT 2024-CES5)
2024年7月13日 - 6:45AM
ビジネスワイヤ(英語)
KBRA assigns preliminary ratings to 20 classes of
mortgage-backed notes from RCKT Mortgage Trust 2024-CES5 (RCKT
2024-CES5), a $479.2 million RMBS transaction, as of the cut-off
date, sponsored by Woodward Capital Management LLC, a wholly owned
affiliate of Rocket Mortgage, LLC, and FirstKey Mortgage, LLC, and
consists entirely of newly originated closed-end second lien
mortgages. The underlying pool is seasoned less than one month and
comprises of 5,909 loans originated solely by Rocket Mortgage, LLC.
The collateral is characterized entirely by fully amortizing,
fixed-rate mortgages with 10-year (5.4%) and 20-year (94.6%)
terms.
To access rating and relevant documents, click here.
Click here to view the report.
Related Publications
- RMBS KCAT
- RCKT 2024-CES5 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 www.kbra.com.
About KBRA
Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit
rating agency 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 by the Ontario
Securities Commission for issuers of asset-backed securities to
file a short form prospectus or shelf prospectus. KBRA is also
recognized by the National Association of Insurance Commissioners
as a Credit Rating Provider.
Doc ID: 1005105
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version on businesswire.com: https://www.businesswire.com/news/home/20240712786104/en/
Analytical Contacts
Daniel Hall, Senior Director (Lead Analyst) +1 646-731-2421
daniel.hall@kbra.com
Jeremy Kugelman, Director +1 646-731-1228
jeremy.kugelman@kbra.com
Jack Kahan, Senior Managing Director, Head of Global RMBS
(Rating Committee Chair) +1 646-731-2486 jack.kahan@kbra.com
Business Development Contact
Daniel Stallone, Managing Director +1 646-731-1308
daniel.stallone@kbra.com