KBRA Assigns Ratings to Finance of America Structured Securities Trust, Series 2024-S2 (FASST 2024-S2)
24 Apr 2024 | New York
KBRA assigns ratings to two classes of mortgage-backed notes from FASST 2024-S2, a $478.1 million reverse mortgage transaction. The transaction collateral is comprised of newly originated loans/participations which have not previously been securitized, loans/participations called from a prior FASST transaction (FASST 2020-S3), seasoned loans previously contributing to a private securitization, and additional participation interests representing draws on existing line of credit reverse mortgages. As such, the assets range from newly originated to many years seasoned, with a weighted average loan age of 40 months through pool cut-off date.
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