KBRA Assigns Ratings to Oceanview Mortgage Trust 2025-INV1 (BVINV 2025-1)
5 Feb 2025 | New York
KBRA assigns ratings to 71 classes of mortgage-backed securities from Oceanview Mortgage Trust 2025-INV1 (BVINV 2025-1). The transaction is backed entirely by prime, investment-purpose mortgage loans. Approximately 99.1% of the loans in this pool are agency eligible. The BVINV 2025-1 pool consists of 1,147 first-lien, fixed rate mortgages with an aggregate principal balance of approximately $324.6 million as of the January 1, 2025 cut-off date. The pool is characterized by significant borrower equity in each mortgaged property, as evidenced by the WA original LTV of 77.1%. The weighted average original credit score is 760, which is 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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