KBRA Assigns Ratings to GS Mortgage-Backed Securities Trust 2024-INV1 (GSMBS 2024-INV1)
31 Oct 2024 | New York
KBRA assigns ratings to 52 classes of mortgage pass-through certificates from GS Mortgage-Backed Securities Trust 2024-INV1 (GSMBS 2024-INV1). The underlying collateral is secured entirely by prime investment-purpose mortgage loans. The pool comprises 722 first-lien, fixed rate residential mortgage loans with an aggregate principal balance of $313.4 million as of the October 1, 2024 cut-off date. The pool is characterized by significant borrower equity in each mortgaged property, as evidenced by the WA original LTV of 70.2% and WA original CLTV of 70.2%. The weighted average original credit score is 767, which is well within the prime mortgage range.
KBRA’s rating approach incorporated loan-level analysis of the mortgage pool through its Residential Asset Loss Model (REALM), 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.
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