KBRA Assigns Preliminary Ratings to CROSS 2025-H5 Mortgage Trust
11 Jun 2025 | New York
KBRA assigns preliminary ratings to ten classes of mortgage pass-through certificates from CROSS 2025-H5 Mortgage Trust, an RMBS transaction issued under the CROSS shelf, where Hildene in affiliation with CrossCountry Mortgage and CrossCountry Capital sponsored the transaction. The $416.5 million transaction is collateralized by a pool of 881 residential mortgages originated by CCM, including a meaningful concentration of collateral that KBRA considers to be “non-prime”, with fixed-rate mortgages (FRMs) and hybrid adjustable-rate mortgages (ARMs) making up 86.7% and 13.3% of the pool, respectively.
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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