KBRA Reinstates Rating on Two Classes of CoreVest American Finance 2019-2

KBRA reinstates its AAA rating on Class A and Class X-A of the CoreVest American Finance 2019-2 transaction. The ratings were withdrawn on July 10, 2024 based on the transaction’s June 2024 remittance that showed the classes were paid in full.

The trustee subsequently revised the remittance statement due to the servicer incorrectly reporting the payoff of two loans which caused the classes to show incorrectly as paid in full. As of the July 2024 remittance there remains $1.4 million of principal and notional balances outstanding on the Classes A and X-A, respectively, of their original $154.8 million balance.

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