NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) affirms eight classes of mortgage pass-through certificates from Sequoia Mortgage Trust (SEMT) 2012-1, a jumbo prime RMBS transaction (see ratings listed below).
The transaction is secured by two pools of first-lien residential mortgage loans. All of the mortgage loans are secured by first liens on one-to-four family residential properties, condominiums, coops, planned unit developments and townhouses.
The rating affirmations follow our review of the transaction which utilized information obtained from the Trustee, U.S. Bank National Association. The SEMT 2012-1 mortgage pool has experienced no loss and minimal delinquency since issuance. There are currently no delinquent loans in the mortgage pool. Additionally, principal payments on the pool have resulted in increased credit enhancement to each of the rated classes. KBRA’s analysis of home price trends indicate that the mortgage pool also benefits from home prices which on average have risen since issuance.
|Class||Rating||Balance (USD 1000s)||Rating Action|
|1-AX||AAA (sf)||$136,578 (1)||Affirmed|
|2-AX||AAA (sf)||$146,934 (1)||Affirmed|
(1) Notional Amount
About Kroll Bond Rating Agency
KBRA was established in 2010 by Jules Kroll to restore trust in credit ratings by creating new standards for assessing risk and by offering accurate, clear and transparent ratings. KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).