NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to forty classes of mortgage pass-through certificates from J.P. Morgan Mortgage Trust 2014-1, a jumbo prime RMBS transaction.
The mortgage pool backing J.P. Morgan Mortgage Trust 2014-1 is comprised of 412 first-lien mortgage loans with an aggregate principal balance of $356,388,663 as of the cut-off date. The loans in the pool are all fixed-rate mortgages with 30-year maturities. Ten of the loans are interest-only for ten years. The pool is characterized by substantial borrower equity in each mortgaged property, as evidenced by the weighted average LTV (71%) and CLTV (72%). The weighted average credit score of the mortgage pool is 761, which is within the “prime” mortgage range.
KBRA’s analysis of the transaction included a loan-level analysis of the mortgage pools using our Residential Mortgage Default and Loss Model, together with a review of the key transaction parties, results of loan file reviews performed by independent third party firms and review of the legal structure and key documentation. This analysis is further described in our U.S. RMBS Rating Methodology.
For complete details on the analysis, please see our Pre-Sale Report, J.P. Morgan Mortgage Trust 2014-1, which was published on February 6th 2014 at www.krollbondratings.com.
J.P. Morgan Mortgage Trust 2014-1 Preliminary Ratings
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).