NEW YORK--(BUSINESS WIRE)--#KBRA--KBRA assigns preliminary ratings to 55 classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2023-3 (SEMT 2023-3), a $338.5 million prime RMBS transaction. The pool consists predominately of fully amortizing fixed rate mortgages with 30-year maturity terms (99.5%) and was originated under the general QM designation (98.8%). The collateral is characterized by a weighted average (WA) original credit score of 769 and moderate borrower equity, with the WA original LTV of 72.6% and WA original CLTV of 72.8%.

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Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

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Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency 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 by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.


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