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KBRA assigns preliminary ratings to 68 classes of mortgage pass-through notes from Citigroup Mortgage Loan Trust 2022-INV2 (CMLTI 2022-INV2), a residential mortgage-backed securities transaction collateralized entirely by investment properties, of which a majority were underwritten to agency guidelines . The underlying pool consists of 1,364 fixed-rate mortgages (FRMs) with an aggregate principal balance of approximately $474.0 million as of the cut-off date on March 1, 2022. Most of the loans were sold to the trust by CitiMortgage Inc., CMG Financial, and Home Point Financial Corporation (Homepoint).
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. This analysis is further described in our US RMBS Rating Methodology.
Click here to view the report. To access ratings and …
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