KBRA Assigns Preliminary Ratings to GS Mortgage-Backed Securities Trust 2024-HE1 (GSMBS 2024-HE1)
28 May 2024 | New York
KBRA assigns preliminary ratings to 6 classes of mortgage-backed notes from GS Mortgage-Backed Securities Trust 2024-HE1 (GSMBS 2024-HE1), a $244.4 million RMBS transaction sponsored by Goldman Sachs Mortgage Company. GSMBS 2024-HE1 consists of first lien (0.4%) and second lien (99.6%) home equity line of credit (HELOC) loans. The underlying pool is seasoned approximately seven months and comprises of 3,092 loans, with United Wholesale Mortgage, LLC (54.0%) and loanDepot.com, LLC (35.1%) representing the largest contributing originators. The HELOCs are adjustable-rate mortgages that feature initial draw windows of three (65.7%), five (0.5%), or ten (33.8%) years and interest-only terms of mostly ten years (99.6%).
To access rating and relevant documents, click here.
Click here to view the report.