KBRA Assigns Preliminary Ratings to AMERIHOME GMSR ISSUER TRUST, Series 2019-GT1 Term Notes

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns a preliminary rating of ‘BBB (sf)’ to the Series 2019-GT1 Class A and Class B Term Notes from AMERIHOME GMSR ISSUER TRUST, AmeriHome Mortgage Company, LLC’s (AmeriHome) master trust issuer of notes backed by a participation certificate evidencing a participation interest in mortgage servicing rights (MSR) on loans underlying Ginnie Mae guaranteed mortgage backed securities.

KBRA’s rating on the Series 2019-GT1 Term Notes is primarily dependent on the credit rating of AmeriHome (KBRA Rating: BBB-/Stable) as repurchase obligor under a repo facility in support of the Issuer’s rights to MSRs granted by Ginnie Mae to AmeriHome, with certain transaction features described more fully in KBRA’s presale report providing one notch uplift on the rating of the notes.

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About KBRA and KBRA Europe

KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus, is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.

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Analytical:
Vincent Arscott, Senior Director

(646) 731-2473

varscott@kbra.com

Sharif Mahdavian, Senior Director

(646) 731-2301

smahdavian@kbra.com

Jack Kahan, Senior Managing Director

(646) 731-2486

jkahan@kbra.com

Business Development:
Michele Patterson, Managing Director

(646) 731-2397

mpatterson@kbra.com