NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 27 classes of mortgage pass-through certificates from Chase Home Lending Mortgage Trust 2019-ATR2 (CHASE 2019-ATR2).
Chase Home Lending Mortgage Trust 2019-ATR2 (CHASE 2019-ATR2) is a prime RMBS transaction comprising 769 residential mortgages with an aggregate principal balance of $608.8 million as of the July 1, 2019 cut-off date. The underlying collateral contains prime jumbo loans, all of which have been designated as Non-Qualified Mortgages (Non-QM).
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.
To access ratings, reports and disclosures, click here.
Related Publications: (available at www.kbra.com)
- CHASE 2019-ATR2 Pre-Sale Report
- CHASE 2019-ATR2 Tear Sheet
- CHASE 2019-ATR2 Representations and Warranties Disclosure
- RMBS KBRA Comparative Analytic Tool (KCAT)
- Residential Mortgage Default and Loss Model
- U.S. RMBS Rating Methodology for Assessing Non-QM Risk
- U.S. RMBS Rating Methodology
- Global Structured Finance Counterparty Methodology
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. KBRA is also 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.
Sharif Mahdavian, Senior Director
Patrick Gervais, Senior Director
Jack Kahan, Senior Managing Director
Hannah Brennan, Analyst