Kroll Bond Rating Agency Assigns Preliminary Ratings to Sequoia Mortgage Trust 2017-4 (SEMT 2017-4)

NEW YORK--()--Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to fifty-three classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2017-4 (SEMT 2017-4), a prime jumbo RMBS transaction.

The SEMT 2017-4 mortgage pool is composed of 478 first-lien mortgage loans with an aggregate principal balance of $349,460,467, as of the cut-off date. The underlying collateral consists entirely of fully-amortizing, fixed-rate mortgages. The pool is characterized by substantial borrower equity in each mortgaged property, as evidenced by the WA original LTV of 67.7% and WA original CLTV of 68.4%. The weighted average original credit score is 770, 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.

For complete details on the analysis, please see our Pre-Sale Report, Sequoia Mortgage Trust 2017-4, which was published on May 31, 2017 on www.kbra.com.

Related Publications: (available at www.kbra.com)

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

Kroll Bond Rating Agency
Analytical:
Ryon Aguirre, Associate
646-731-2382
raguirre@kbra.com
or
Jack Kahan, Managing Director
646-731-2486
jkahan@kbra.com
or
Patrick Gervais, Senior Director
646-731-2426
pgervais@kbra.com
or
Edward DeVito, Senior Director
646-731-2319
edevito@kbra.com

Contacts

Kroll Bond Rating Agency
Analytical:
Ryon Aguirre, Associate
646-731-2382
raguirre@kbra.com
or
Jack Kahan, Managing Director
646-731-2486
jkahan@kbra.com
or
Patrick Gervais, Senior Director
646-731-2426
pgervais@kbra.com
or
Edward DeVito, Senior Director
646-731-2319
edevito@kbra.com