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KBRA Withdraws Ratings on 54 Classes from 5 RMBS Transactions

14 Mar 2025   |   New York

Contacts

KBRA withdraws its ratings from the classes shown below following the reduction of its respective principal balances to zero. The related remittance report did not reflect any accumulated interest shortfalls or principal writedowns. KBRA’s ratings are updated as follows:

  • GCAT 2021-NQM7 Trust, Class A-1X, from 'AAA (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2021-DNA6 (STACR 2021-DNA6), Class M-1, from 'A+ (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A1, from 'AAA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A1A, from 'AAA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A1AX, from 'AAA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A1B, from 'AAA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A1BX, from 'AAA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A1C, from 'AAA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A1CX, from 'AAA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A1D, from 'AAA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A1DX, from 'AAA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A2, from 'AA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A2A, from 'AA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A2AX, from 'AA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A2B, from 'AA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A2BX, from 'AA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A2C, from 'AA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A2CX, from 'AA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A2D, from 'AA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A2DX, from 'AA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A3, from 'AA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class A4, from 'AA (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class B1, from 'BB+ (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class B1A, from 'BB+ (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class B1AX, from 'BB+ (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class B1B, from 'BB+ (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class B1BX, from 'BB+ (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class B1C, from 'BB+ (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class B1CX, from 'BB+ (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class B1D, from 'BB+ (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class B1DX, from 'BB+ (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class B2, from 'B+ (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class B3, from 'B- (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M1, from 'A (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M1A, from 'A (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M1AX, from 'A (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M1B, from 'A (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M1BX, from 'A (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M1C, from 'A (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M1CX, from 'A (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M1D, from 'A (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M1DX, from 'A (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M2, from 'BBB (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M2A, from 'BBB (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M2AX, from 'BBB (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M2B, from 'BBB (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M2BX, from 'BBB (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M2C, from 'BBB (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M2CX, from 'BBB (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M2D, from 'BBB (sf)' to 'WR (sf)'
  • Towd Point HE Trust 2023-1 (TPHT 2023-1), Class M2DX, from 'BBB (sf)' to 'WR (sf)'
  • Finance of America Structured Securities Trust JR2, Series 2019-JR4 (FASST 2019-JR4), Class A, from 'AAA (sf)' to 'WR (sf)'
  • Finance of America Structured Securities Trust JR2, Series 2020-JR2 (FASST 2020-JR2), Class A1A, from 'AAA (sf)' to 'WR (sf)'
  • Finance of America Structured Securities Trust JR2, Series 2020-JR2 (FASST 2020-JR2), Class A1B, from 'AAA (sf)' to 'WR (sf)'

To access ratings and relevant documents click deal names below:

Related Publication

Methodologies

Disclosures

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), one of the major credit rating agencies (CRA), is a full-service CRA 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 (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan’s Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S.

Doc ID: 1008571

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