Kroll Bond Rating Agency Assigns Subordinate Ratings to Ten Sequoia Mortgage Trust Transactions

Business Wire

NEW YORK--(BUSINESS WIRE)--

Kroll Bond Rating Agency (KBRA) assigns ratings to forty subordinate classes of mortgage pass-through certificates from ten Sequoia Mortgage Trust (SEMT) jumbo prime RMBS transactions (SEMT 2012-3, SEMT 2012-4, SEMT 2012-5, SEMT 2012-6, SEMT 2013-1, SEMT 2013-2, SEMT 2013-3, SEMT 2013-4, SEMT 2013-5, and SEMT 2013-6). KBRA initially rated the senior certificates in all of these transactions and the Sponsor has subsequently requested ratings on the subordinate bonds.

KBRA’s analysis of the transactions included a loan-level analysis of the mortgage pools as of the respective securitization closing date using our Residential Mortgage Default and Loss Model, together with a review of the key transaction parties, results of loan file reviews performed by independent third party firms and review of the legal structure and key documentation. This analysis is further described in our U.S. RMBS Rating Methodology.

For complete details on the analysis, please see each of our New Issue Reports published on our website at www.kbra.com.

 

Sequoia Mortgage Trust 2012-3 Final Ratings

 
Class         Rating         Class Principal
B-1         AA(sf)         9,248,000
B-2         A-(sf)         5,137,000
B-3         BBB(sf)         2,496,000
B-4         BB(sf)         1,468,000
B-5         NR         3,083,499
               
 

Sequoia Mortgage Trust 2012-4 Final Ratings

               
Class         Rating         Class Principal
B-1         AA(sf)         9,709,000
B-2         A(sf)         5,482,000
B-3         BBB(sf)         2,819,000
B-4         BB(sf)         1,566,000
B-5         NR         3,292,625
 
               

Sequoia Mortgage Trust 2012-5 Final Ratings

 
Class         Rating         Class Principal
B-1         AA(sf)         8,488,000
B-2         A(sf)         5,286,000
B-3         BBB(sf)         3,684,000
B-4         BB(sf)         2,563,000
B-5         NR         3,364,050
 
               

Sequoia Mortgage Trust 2012-6 Final Ratings

 
Class         Rating         Class Principal
B-1         AA(sf)         7,989,000
B-2         A(sf)         4,220,000
B-3         BBB(sf)         3,467,000
B-4         BB(sf)         2,412,000
B-5         NR         3,165,461
 
               

Sequoia Mortgage Trust 2013-1 Final Ratings

 
Class         Rating         Class Principal
B-1         AA(sf)         10,146,000
B-2         A(sf)         6,764,000
B-3         BBB(sf)         4,576,000
B-4         BB(sf)         3,382,000
B-5         NR         4,178,280
 
               

Sequoia Mortgage Trust 2013-2 Final Ratings

 
Class         Rating         Class Principal
B-1         AA(sf)         14,654,000
B-2         A(sf)         12,657,000
B-3         BBB(sf)         6,661,000
B-4         BB(sf)         5,662,000
B-5         NR         7,328,405
 
               

Sequoia Mortgage Trust 2013-3 Final Ratings

 
Class         Rating         Class Principal
B-1         AA(sf)         11,404,000
B-2         A(sf)         9,904,000
B-3         BBB(sf)         8,102,000
B-4         BB(sf)         3,001,000
B-5         NR         6,603,241
 
               

Sequoia Mortgage Trust 2013-4 Final Ratings

 
Class         Rating         Class Principal
B-1         AA(sf)         10,952,000
B-2         A(sf)         9,511,000
B-3         BBB(sf)         6,340,000
B-4         BB(sf)         3,170,000
B-5         NR         6,054,465
 
               

Sequoia Mortgage Trust 2013-5 Final Ratings

 
Class         Rating         Class Principal
B-1         AA(sf)         9,035,000
B-2         A(sf)         7,645,000
B-3         BBB(sf)         5,097,000
B-4         BB(sf)         2,316,000
B-5         NR         4,866,441
 
               

Sequoia Mortgage Trust 2013-6 Final Ratings

 
Class         Rating         Class Principal
B-1         AA(sf)         7,649,000
B-2         A(sf)         7,012,000
B-3         BBB(sf)         6,374,000
B-4         BB(sf)         2,125,000
B-5         NR         4,463,577
 

Related publications:

U.S. RMBS Rating Methodology, published January 9, 2012

Residential Mortgage Default and Loss Model, published January 9, 2012

About Kroll Bond Rating Agency

KBRA was established in 2010 by Jules Kroll to restore trust in credit ratings by creating new standards for assessing risk and by offering accurate, clear and transparent ratings. 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).

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