Press Release|RMBS
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KBRA Withdraws Ratings on 80 Classes from 11 RMBS Transactions

21 Sep 2026   |   New York

Contacts

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

  • CIM Trust 2020-INV1 (CIM 2020-INV1), Class A-3, from 'AAA (sf)' to 'WR (sf)'
  • CIM Trust 2020-INV1 (CIM 2020-INV1), Class A-4, from 'AAA (sf)' to 'WR (sf)'
  • CIM Trust 2020-INV1 (CIM 2020-INV1), Class A-IO3, from 'AAA (sf)' to 'WR (sf)'
  • EFMT 2022-4, Class A-1, from 'AAA (sf)' to 'WR (sf)'
  • EFMT 2022-4, Class A-2, from 'AA+ (sf)' to 'WR (sf)'
  • EFMT 2022-4, Class A-3, from 'A+ (sf)' to 'WR (sf)'
  • EFMT 2022-4, Class B-1, from 'BBB- (sf)' to 'WR (sf)'
  • EFMT 2022-4, Class B-2, from 'BB (sf)' to 'WR (sf)'
  • EFMT 2022-4, Class M-1, from 'BBB+ (sf)' to 'WR (sf)'
  • GS Mortgage-Backed Securities Trust 2024-PJ6 (GSMBS 2024-PJ6), Class A-10, from 'AAA (sf)' to 'WR (sf)'
  • GS Mortgage-Backed Securities Trust 2024-PJ6 (GSMBS 2024-PJ6), Class A-7, from 'AAA (sf)' to 'WR (sf)'
  • GS Mortgage-Backed Securities Trust 2024-PJ6 (GSMBS 2024-PJ6), Class A-7-X, from 'AAA (sf)' to 'WR (sf)'
  • GS Mortgage-Backed Securities Trust 2024-PJ6 (GSMBS 2024-PJ6), Class A-8, from 'AAA (sf)' to 'WR (sf)'
  • GS Mortgage-Backed Securities Trust 2024-PJ6 (GSMBS 2024-PJ6), Class A-9, from 'AAA (sf)' to 'WR (sf)'
  • GS Mortgage-Backed Securities Trust 2024-PJ6 (GSMBS 2024-PJ6), Class A-9-X, from 'AAA (sf)' to 'WR (sf)'
  • GS Mortgage-Backed Securities Trust 2024-PJ8 (GSMBS 2024-PJ8), Class A-10, from 'AAA (sf)' to 'WR (sf)'
  • GS Mortgage-Backed Securities Trust 2024-PJ8 (GSMBS 2024-PJ8), Class A-7, from 'AAA (sf)' to 'WR (sf)'
  • GS Mortgage-Backed Securities Trust 2024-PJ8 (GSMBS 2024-PJ8), Class A-7-X, from 'AAA (sf)' to 'WR (sf)'
  • GS Mortgage-Backed Securities Trust 2024-PJ8 (GSMBS 2024-PJ8), Class A-8, from 'AAA (sf)' to 'WR (sf)'
  • GS Mortgage-Backed Securities Trust 2024-PJ8 (GSMBS 2024-PJ8), Class A-9, from 'AAA (sf)' to 'WR (sf)'
  • GS Mortgage-Backed Securities Trust 2024-PJ8 (GSMBS 2024-PJ8), Class A-9-X, from 'AAA (sf)' to 'WR (sf)'
  • J.P. Morgan Mortgage Trust 2023-HE1 (JPMMT 2023-HE1), Class A-1, from 'AAA (sf)' to 'WR (sf)'
  • J.P. Morgan Mortgage Trust 2023-HE1 (JPMMT 2023-HE1), Class B-1, from 'BBB- (sf)' to 'WR (sf)'
  • J.P. Morgan Mortgage Trust 2023-HE1 (JPMMT 2023-HE1), Class B-2, from 'BB+ (sf)' to 'WR (sf)'
  • J.P. Morgan Mortgage Trust 2023-HE1 (JPMMT 2023-HE1), Class B-3, from 'B+ (sf)' to 'WR (sf)'
  • J.P. Morgan Mortgage Trust 2023-HE1 (JPMMT 2023-HE1), Class M-1, from 'AA+ (sf)' to 'WR (sf)'
  • J.P. Morgan Mortgage Trust 2023-HE1 (JPMMT 2023-HE1), Class M-2, from 'A+ (sf)' to 'WR (sf)'
  • J.P. Morgan Mortgage Trust 2023-HE1 (JPMMT 2023-HE1), Class M-3, from 'A- (sf)' to 'WR (sf)'
  • OBX 2022-NQM7 Trust, Class A-1, from 'AAA (sf)' to 'WR (sf)'
  • OBX 2022-NQM7 Trust, Class A-2, from 'AA+ (sf)' to 'WR (sf)'
  • OBX 2022-NQM7 Trust, Class A-3, from 'A (sf)' to 'WR (sf)'
  • OBX 2022-NQM7 Trust, Class B-1, from 'BB (sf)' to 'WR (sf)'
  • OBX 2022-NQM7 Trust, Class B-2, from 'B+ (sf)' to 'WR (sf)'
  • OBX 2022-NQM7 Trust, Class M-1, from 'BBB (sf)' to 'WR (sf)'
  • OBX 2023-NQM5 Trust, Class A-1A, from 'AAA (sf)' to 'WR (sf)'
  • OBX 2023-NQM5 Trust, Class A-1B, from 'AAA (sf)' to 'WR (sf)'
  • OBX 2023-NQM5 Trust, Class A-2, from 'AA (sf)' to 'WR (sf)'
  • OBX 2023-NQM5 Trust, Class A-3, from 'A (sf)' to 'WR (sf)'
  • OBX 2023-NQM5 Trust, Class B-1, from 'BB (sf)' to 'WR (sf)'
  • OBX 2023-NQM5 Trust, Class B-2, from 'B (sf)' to 'WR (sf)'
  • OBX 2023-NQM5 Trust, Class M-1, from 'BBB+ (sf)' to 'WR (sf)'
  • OBX 2023-NQM6 Trust, Class A-1, from 'AAA (sf)' to 'WR (sf)'
  • OBX 2023-NQM6 Trust, Class A-2, from 'AA+ (sf)' to 'WR (sf)'
  • OBX 2023-NQM6 Trust, Class A-3, from 'AA- (sf)' to 'WR (sf)'
  • OBX 2023-NQM6 Trust, Class B-1, from 'BB (sf)' to 'WR (sf)'
  • OBX 2023-NQM6 Trust, Class B-2, from 'B (sf)' to 'WR (sf)'
  • OBX 2023-NQM6 Trust, Class M-1, from 'A- (sf)' to 'WR (sf)'
  • RCKT Mortgage Trust 2023-CES1 (RCKT 2023-CES1), Class A-1, from 'AAA (sf)' to 'WR (sf)'
  • RCKT Mortgage Trust 2023-CES1 (RCKT 2023-CES1), Class A-1A, from 'AAA (sf)' to 'WR (sf)'
  • RCKT Mortgage Trust 2023-CES1 (RCKT 2023-CES1), Class A-1B, from 'AAA (sf)' to 'WR (sf)'
  • RCKT Mortgage Trust 2023-CES1 (RCKT 2023-CES1), Class A-2, from 'AA+ (sf)' to 'WR (sf)'
  • RCKT Mortgage Trust 2023-CES1 (RCKT 2023-CES1), Class A-3, from 'AA+ (sf)' to 'WR (sf)'
  • RCKT Mortgage Trust 2023-CES1 (RCKT 2023-CES1), Class A-4, from 'A+ (sf)' to 'WR (sf)'
  • RCKT Mortgage Trust 2023-CES1 (RCKT 2023-CES1), Class A-5, from 'A- (sf)' to 'WR (sf)'
  • RCKT Mortgage Trust 2023-CES1 (RCKT 2023-CES1), Class B-1, from 'BBB (sf)' to 'WR (sf)'
  • RCKT Mortgage Trust 2023-CES1 (RCKT 2023-CES1), Class B-2, from 'BB+ (sf)' to 'WR (sf)'
  • RCKT Mortgage Trust 2023-CES1 (RCKT 2023-CES1), Class M-1, from 'A+ (sf)' to 'WR (sf)'
  • RCKT Mortgage Trust 2023-CES1 (RCKT 2023-CES1), Class M-2, from 'A- (sf)' to 'WR (sf)'
  • Sequoia Mortgage Trust 2023-5 (SEMT 2023-5), Class A-10, from 'AAA (sf)' to 'WR (sf)'
  • Sequoia Mortgage Trust 2023-5 (SEMT 2023-5), Class A-11, from 'AAA (sf)' to 'WR (sf)'
  • Sequoia Mortgage Trust 2023-5 (SEMT 2023-5), Class A-12, from 'AAA (sf)' to 'WR (sf)'
  • Sequoia Mortgage Trust 2023-5 (SEMT 2023-5), Class A-IO11, from 'AAA (sf)' to 'WR (sf)'
  • Sequoia Mortgage Trust 2023-5 (SEMT 2023-5), Class A-IO12, from 'AAA (sf)' to 'WR (sf)'
  • Sequoia Mortgage Trust 2023-5 (SEMT 2023-5), Class A-IO13, from 'AAA (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2B, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2BI, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2BR, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2BS, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2BT, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2BU, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2I, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2R, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2RB, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2S, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2SB, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2T, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2TB, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2U, from 'BBB (sf)' to 'WR (sf)'
  • Freddie Mac STACR REMIC Trust 2024-DNA3 (STACR 2024-DNA3), Class M-2UB, from 'BBB (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: 1017080