AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

KBRA Assigns Preliminary Ratings to PSMC 2019-3 Trust

October 23, 2019

NEW YORK--(BUSINESS WIRE)--Oct 23, 2019--

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 42 classes of mortgage pass-through certificates from PSMC 2019-3 Trust (PSMC 2019-3), a prime jumbo RMBS transaction jointly sponsored by subsidiaries of American International Group, Inc. (AIG).

The PSMC 2019-3 pool comprises 414 first-lien, prime residential mortgage loans with an aggregate principal balance of $298,606,220 as of the cut-off date. The collateral consists of 30-year fully-amortizing, fixed rate mortgages (FRMs). The pool is characterized by significant borrower equity in each mortgaged property, as evidenced by the WA original LTV of 68.9% and WA original CLTV of 69.1%. The weighted average original credit score is 777, which is well 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 )

CONNECT WITH KBRA

Twitter
LinkedIn
YouTube

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191023005621/en/

CONTACT: Analytical:

Armine Karajyan, Associate Director

(646) 731-1210

akarajyan@kbra.com

Jack Kahan, Senior Managing Director

(646) 731-2486

jkahan@kbra.com

Hannah Brennan, Analyst

(646) 731-3324

hbrennan@kbra.com

Business Development:

Michele Patterson, Managing Director

(646) 731-2397

mpatterson@kbra.com

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES INSURANCE FINANCE

SOURCE: Kroll Bond Rating Agency

Copyright Business Wire 2019.

PUB: 10/23/2019 12:03 PM/DISC: 10/23/2019 12:03 PM

http://www.businesswire.com/news/home/20191023005621/en