RMBS KBRA Comparative Analytic Tool (KCAT).To access ratings and relevant documents, click here. This analysis is further described in our U.S. KBRA’s rating approach incorporated loan-level analysis of the mortgage pool through its KBRA RMBS Credit Model, 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.
The pool’s WA LTV and combined LTV (CLTV) equal 75.5% and 75.7%, respectively. The borrowers in the STACR 2023-DNA2 Reference Pool have a non-zero WA (NZWA) original credit score of 751 and a NZWA debt-to-income (DTI) ratio of 37.3%. The Reference Obligations are fully documented, fully-amortizing, primarily 30-year fixed-rate mortgages (FRMs) of prime quality. The STACR 2023-DNA2 Reference Pool consists of 55,113 residential mortgage loans with an outstanding principal balance of approximately $17.9 billion as of the cut-off date.
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