10. REDUCED INEQUALITIES

KBRA Assigns Preliminary Ratings to Citigroup Mortgage Loan Trust 2024-INV1 (CMLTI 2024-INV1)

Written by Amanda

NEW YORK, February 12, 2024–(BUSINESS WIRE)–KBRA assigns preliminary ratings to 79 classes of mortgage pass-through notes from Citigroup Mortgage Loan Trust 2024-INV1 (CMLTI 2024-INV1), a residential mortgage-backed securities transaction collateralized by non-owner occupied (NOO) properties and loans that were predominantly underwritten to agency guidelines. The underlying pool consists of 888 fixed-rate mortgages (FRMs) with an aggregate principal balance of approximately $323.6 million as of the cut-off date on January 1, 2024. Most of the loans were sold to the trust by PennyMac (PennyMac Corp and PennyMac Loan Services; 82.3%).

To access rating and relevant documents, click here.

Click here to view the report.

Related Publications

Methodologies

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. 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.

Doc ID: 1003087

View source version on businesswire.com: https://www.businesswire.com/news/home/20240212427552/en/

Contacts

Analytical Contacts

Armine Karajyan, Senior Director, RMBS (Lead Analyst)
+1 646-731-1210
armine.karajyan@kbra.com

Jules Brunier, Senior Analyst
+1 646-731-1209
jules.brunier@kbra.com

Jack Kahan, Senior Managing Director, Head of Global RMBS (Rating Committee Chair)
+1 646-731-2486
jack.kahan@kbra.com

Business Development Contact

Daniel Stallone, Senior Director
+1 646-731-1308
daniel.stallone@kbra.com

Source: finance.yahoo.com

NEW YORK, February 12, 2024–(BUSINESS WIRE)–KBRA assigns preliminary ratings to 79 classes of mortgage pass-through notes from Citigroup Mortgage Loan Trust 2024-INV1 (CMLTI 2024-INV1), a residential mortgage-backed securities transaction collateralized by non-owner occupied (NOO) properties and loans that were predominantly underwritten to agency guidelines. The underlying pool consists of 888 fixed-rate mortgages (FRMs) with an aggregate principal balance of approximately $323.6 million as of the cut-off date on January 1, 2024. Most of the loans were sold to the trust by PennyMac (PennyMac Corp and PennyMac Loan Services; 82.3%).

To access rating and relevant documents, click here.

Click here to view the report.

Related Publications

Methodologies

Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. 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.

Doc ID: 1003087

View source version on businesswire.com: https://www.businesswire.com/news/home/20240212427552/en/

Contacts

Analytical Contacts

Armine Karajyan, Senior Director, RMBS (Lead Analyst)
+1 646-731-1210
armine.karajyan@kbra.com

Jules Brunier, Senior Analyst
+1 646-731-1209
jules.brunier@kbra.com

Jack Kahan, Senior Managing Director, Head of Global RMBS (Rating Committee Chair)
+1 646-731-2486
jack.kahan@kbra.com

Business Development Contact

Daniel Stallone, Senior Director
+1 646-731-1308
daniel.stallone@kbra.com

Source: finance.yahoo.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai

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