NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) released today a comprehensive surveillance report for Sequoia Mortgage Trust (“SEMT”) residential mortgage-backed securities (“RMBS”) transactions issued from March 2010-March 2013. KBRA does not rate any class of the SEMT 2010-H1, SEMT 2011-1 or SEMT 2011-2 securitizations but has included an analysis of these transactions within the report as a benefit to investors.
The KBRA report uses zip-code level home price index data to provide investors with a graphical view of home price changes for each deal in the regions of greatest geographic concentration. KBRA also provides estimated updated CLTVs, together with estimated updated loss projections and loss coverage levels for each security, based on the HPI analysis. The substantial home price increases of 2012 and 2013 are reflected in lower projected losses and enhanced loss protection for many of the SEMT RMBS securities.
The report also provides summary information of delinquencies, pay downs, and changes in credit enhancement since issuance for each of the nine transactions issued over the time period, as well as prepayment rate tracking.
The report, Sequoia Mortgage Trust Comprehensive Surveillance, can be found at www.krollbondratings.com.
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).