KBRA Affirms All Ratings for Ready Capital Mortgage Trust 2022-7
20 Mar 2024 | New York
KBRA affirms ratings for all classes of RCMT 2022-7, a small balance commercial transaction. The affirmations follow a surveillance review of the transaction which has experienced stable pool performance since securitization.
As of the February 2024 remittance period, there are no specially serviced or delinquent loans. Three loans (4.8% of the pool balance) have been identified as K-LOCs. Of the K-LOCs, two (4.1%) have estimated losses. These include:
- Millenia Properties (3.2%, 24.3% estimated loss severity)
- Northeast Ohio MF Portfolio (0.9%, 58.7%)
The remaining K-LOC does not have an estimated loss and represents 0.7% of the pool balance.
Excluding K-LOCs with estimated losses, the transaction’s WA KLTV is 108.6% compared to 113.4% at last review and 117.4% at securitization. The KDSC is 1.58x compared to 1.55x at last review and 1.51x at securitization.
To access rating and relevant documents, click here.
Click here to view the report.