NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency, Inc. (KBRA) assigns preliminary ratings to sixty-nine classes of mortgage pass-through certificates from RPMLT 2014-1 Trust (RPMLT 2014-1), a residential mortgage-backed securities (RMBS) transaction collateralized by a pool of re-performing mortgage loans. The preliminary ratings are subject to subsequent information and may differ from the final ratings.
The RPMLT 2014-1 mortgage pool is comprised of 3,027 first-lien re-performing mortgage loans with an aggregate principal balance of $644,122,531 as of the cut-off date. The pool consists of approximately 90.2% fully-amortizing, fixed-rate mortgages (FRMs), 7.6 % fully-amortizing, adjustable-rate mortgages (ARMs) and 2.3% ARMs with interest-only (IO) periods of either seven or ten years. The loans are seasoned 98 months.
KBRA analyzed the transaction using the following RMBS methodology reports published on January 9, 2012:
|Class||Rating||Initial Certificate Balance ($)||Rating Action|
Representations and Warranties
All Nationally Recognized Statistical Rating Organizations are required, pursuant to SEC Rule 17g-7, to provide a description of a transaction’s representations, warranties and enforcement mechanisms that are available to investors when issuing credit ratings. For detailed information regarding the representations and warranties for this transaction, please see KBRA’s RPMLT 2014-1 Rule 17g-7 Disclosure Report, which was published contemporaneously with this release on November 17, 2014. Click here to access the RPMLT 2014-1 Trust Rule 17g-7 Disclosure Report.
About Kroll Bond Rating Agency
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).