Kroll Bond Rating Agency Assigns Preliminary Ratings to J.P. Morgan Mortgage Trust 2017-2 (JPMMT 2017-2)

NEW YORK--()--Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 27 classes of mortgage pass-through certificates from J.P. Morgan Mortgage Trust 2017-2 (JPMMT 2017-2), a prime jumbo RMBS transaction.

The JPMMT 2017-2 mortgage pool comprises 1,519 first-lien residential loans with an aggregate principal balance of $1,019,973,689 as of the cut-off date. The collateral consists entirely of fully-amortizing, fixed rate mortgages (FRMs), most of which possess 30-year maturities (99.8%). The pool is characterized by significant borrower equity in each mortgaged property, as evidenced by the WA original LTV of 69.5% and WA original CLTV of 69.9%. The weighted average original credit score is 768, which is within the prime mortgage range.

KBRA’s rating approach incorporated loan-level analysis of the mortgage pool through its Residential Mortgage Default and Loss Model, an examination of the results from third-party loan file due diligence, cash flow modeling analysis of the transaction’s payment structure, reviews of key transaction parties and an assessment of the transaction’s legal structure and documentation. This analysis is further described in our U.S. RMBS Rating Methodology.

Representations & Warranties Disclosure

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 contained in the offering documents when issuing credit ratings. KBRA’s disclosure for this transaction can be found in the report entitled J.P. Morgan Mortgage Trust 2017-2 Representations and Warranties Disclosure.

Related publications:

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).

Contacts

Analytical:
Kroll Bond Rating Agency
Patrick Gervais, 646-731-2426
pgervais@kbra.com
or
Jack Kahan, 646-731-2486
jkahan@kbra.com
or
Gary Narvaez, 646-731-2478
gnarvaez@kbra.com
or
Ryon Aguirre, 646-731-2382
raguirre@kbra.com

Contacts

Analytical:
Kroll Bond Rating Agency
Patrick Gervais, 646-731-2426
pgervais@kbra.com
or
Jack Kahan, 646-731-2486
jkahan@kbra.com
or
Gary Narvaez, 646-731-2478
gnarvaez@kbra.com
or
Ryon Aguirre, 646-731-2382
raguirre@kbra.com