KBRA Assigns Preliminary Ratings to CIM Trust 2019-INV2

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to
thirty-one classes of mortgage pass-through certificates from CIM Trust
2019-INV2, a prime RMBS transaction, the second from Chimera Investment
Corporation and backed exclusively by agency-eligible investment-purpose
mortgage loans.

The CIM Trust 2019-INV2 mortgage pool is composed of 1,438 first-lien
mortgage loans with an aggregate principal balance of $364,220,181 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 67.9% and WA original CLTV of 67.9%. 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.

To access ratings, reports and disclosures, click here.

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

• CIM
  Trust 2019-INV2 Pre-Sale Report
• CIM
  Trust 2019-INV2 Tear Sheet
• CIM
  Trust 2019-INV2 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

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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. 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.

Contacts

Analytical Contacts:

Kristymarie Cariello, Director
(646) 731-2494
kcariello@kbra.com

Fei Han, Analyst
(646) 731-2342
fhan@kbra.com

Jack Kahan, Managing Director
(646) 731-2486
jkahan@kbra.com