Press Release|RMBS
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KBRA Withdraws Ratings on 40 Classes from 6 RMBS Transactions

12 Jun 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:

  • Connecticut Avenue Securities Trust 2024-R06 (CAS 2024-R06), Class 1A-I1, from 'BBB+ (sf)' to 'WR (sf)'
  • Connecticut Avenue Securities Trust 2024-R06 (CAS 2024-R06), Class 1A-I2, from 'BBB+ (sf)' to 'WR (sf)'
  • Connecticut Avenue Securities Trust 2024-R06 (CAS 2024-R06), Class 1A-I3, from 'BBB+ (sf)' to 'WR (sf)'
  • Connecticut Avenue Securities Trust 2024-R06 (CAS 2024-R06), Class 1A-I4, from 'BBB+ (sf)' to 'WR (sf)'
  • Connecticut Avenue Securities Trust 2024-R06 (CAS 2024-R06), Class 1E-A1, from 'BBB+ (sf)' to 'WR (sf)'
  • Connecticut Avenue Securities Trust 2024-R06 (CAS 2024-R06), Class 1E-A2, from 'BBB+ (sf)' to 'WR (sf)'
  • Connecticut Avenue Securities Trust 2024-R06 (CAS 2024-R06), Class 1E-A3, from 'BBB+ (sf)' to 'WR (sf)'
  • Connecticut Avenue Securities Trust 2024-R06 (CAS 2024-R06), Class 1E-A4, from 'BBB+ (sf)' to 'WR (sf)'
  • Connecticut Avenue Securities Trust 2024-R06 (CAS 2024-R06), Class 1M-2A, from 'BBB+ (sf)' to 'WR (sf)'
  • J.P. Morgan Mortgage Trust 2014-2 (JPMMT 2014-2), Class 2-A-1, from 'AAA (sf)' to 'WR (sf)'
  • J.P. Morgan Mortgage Trust 2014-2 (JPMMT 2014-2), Class 2-A-2, from 'AAA (sf)' to 'WR (sf)'
  • J.P. Morgan Mortgage Trust 2014-2 (JPMMT 2014-2), Class 2-A-3, from 'AAA (sf)' to 'WR (sf)'
  • J.P. Morgan Mortgage Trust 2014-2 (JPMMT 2014-2), Class 2-X-1, from 'AAA (sf)' to 'WR (sf)'
  • J.P. Morgan Mortgage Trust 2014-2 (JPMMT 2014-2), Class 2-X-2, from 'AAA (sf)' to 'WR (sf)'
  • PSMC 2018-3 Trust, Class A-10, from 'AAA (sf)' to 'WR (sf)'
  • PSMC 2018-3 Trust, Class A-15, from 'AAA (sf)' to 'WR (sf)'
  • PSMC 2018-3 Trust, Class A-16, from 'AAA (sf)' to 'WR (sf)'
  • PSMC 2018-3 Trust, Class A-9, from 'AAA (sf)' to 'WR (sf)'
  • PSMC 2018-3 Trust, Class A-X1, from 'AAA (sf)' to 'WR (sf)'
  • PSMC 2018-3 Trust, Class A-X6, from 'AAA (sf)' to 'WR (sf)'
  • PSMC 2018-3 Trust, Class A-X7, from 'AAA (sf)' to 'WR (sf)'
  • PSMC 2018-3 Trust, Class B-1, from 'AAA (sf)' to 'WR (sf)'
  • PSMC 2018-3 Trust, Class B-2, from 'AAA (sf)' to 'WR (sf)'
  • PSMC 2018-3 Trust, Class B-3, from 'AAA (sf)' to 'WR (sf)'
  • PSMC 2018-3 Trust, Class B-4, from 'AA+ (sf)' to 'WR (sf)'
  • PSMC 2018-3 Trust, Class B-5, from 'A (sf)' to 'WR (sf)'
  • Sequoia Mortgage Trust 2024-9 (SEMT 2024-9), Class A-10, from 'AAA (sf)' to 'WR (sf)'
  • Sequoia Mortgage Trust 2024-9 (SEMT 2024-9), Class A-11, from 'AAA (sf)' to 'WR (sf)'
  • Sequoia Mortgage Trust 2024-9 (SEMT 2024-9), Class A-12, from 'AAA (sf)' to 'WR (sf)'
  • Sequoia Mortgage Trust 2024-9 (SEMT 2024-9), Class A-IO11, from 'AAA (sf)' to 'WR (sf)'
  • Sequoia Mortgage Trust 2024-9 (SEMT 2024-9), Class A-IO12, from 'AAA (sf)' to 'WR (sf)'
  • Sequoia Mortgage Trust 2024-9 (SEMT 2024-9), Class A-IO13, from 'AAA (sf)' to 'WR (sf)'
  • Structured Agency Credit Risk Debt Notes, Series 2016-HQA2 (STACR 2016-HQA2), Class M-3, from 'AAA (sf)' to 'WR (sf)'
  • Structured Agency Credit Risk Debt Notes, Series 2016-HQA2 (STACR 2016-HQA2), Class M-3B, from 'AAA (sf)' to 'WR (sf)'
  • Verus Securitization Trust 2023-4 (VERUS 2023-4), Class A-1, from 'AAA (sf)' to 'WR (sf)'
  • Verus Securitization Trust 2023-4 (VERUS 2023-4), Class A-2, from 'AA+ (sf)' to 'WR (sf)'
  • Verus Securitization Trust 2023-4 (VERUS 2023-4), Class A-3, from 'A+ (sf)' to 'WR (sf)'
  • Verus Securitization Trust 2023-4 (VERUS 2023-4), Class B-1, from 'BB (sf)' to 'WR (sf)'
  • Verus Securitization Trust 2023-4 (VERUS 2023-4), Class B-2, from 'B (sf)' to 'WR (sf)'
  • Verus Securitization Trust 2023-4 (VERUS 2023-4), Class M-1, 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: 1015497