KBRA Assigns Ratings to RAM 2025-1, LLC
9 May 2025 | New York
KBRA assigns ratings to two classes of notes issued by RAM 2025-1, LLC (RAM 2025-1), a $130.55 million property tax lien ABS transaction. Proceeds from the Notes will be used to acquire a portfolio of 9,632 property tax lien assets from municipalities within seven states, including Florida (34.1%), New Jersey (33.9%), and South Carolina (11.2%), with a redemptive value of approximately $83.1 million (the Initial Tax Liens) and a weighted average original lien rate of 6.7%. RAM 2025-1 is a partially pre-funded transaction where the Notes are initially supported by $51.0 million deposited into two prefunding accounts (approximately 39.1% of the initial Note balance) that will be used to purchase tax liens subject to certain eligibility criteria.
RAM Financial Group, LLC (RAM, the Company or the Servicer) was founded in 2019 and is a specialty finance holding company that purchases real estate tax liens from government entities or third parties. The Company is comprised of seven individuals operating out of offices across the country. As of March 31, 2025, RAM has originated over $540.0 million in tax liens across 11 states, of which approximately $120.0 million are outstanding.
To access ratings and relevant documents, click here.
Click here to view the report.