NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 8 classes of mortgage pass-through certificates from Citigroup Mortgage Loan Trust 2025-LTV1 (CMLTI 2025-LTV1), a prime high LTV residential mortgage-backed securities (RMBS) transaction issued by Citigroup through its CMLTI shelf and comprises 827 residential mortgages with an aggregate unpaid principal balance (UPB) of approximately $365.0 million as of the November 1, 2025, cut-off date. The underlying collateral consists entirely of 30-year ...

Related Publications NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 10 classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2025-NQM7 (NRMLT 2025-NQM7), a $493.7 million non-prime RMBS transaction sponsored by Rithm Capital Corp. (formerly New Residential Investment Corp.), a publicly traded (NYSE: RITM) real estate investment trust (REIT). The underlying mortgages in the subject pool were primarily originated by NewRez LLC (48.7%) and Champions Funding, LLC (16.1%). In ...

Core Insights - KBRA has assigned preliminary ratings to eight classes of mortgage-backed notes from Santander Mortgage Asset Receivable Trust 2025-CES1, a $289.3 million RMBS transaction sponsored by Santander Bank, N.A. and Canyon PS1-25 Holdings, LP [1] - The mortgage pool consists entirely of newly originated closed-end second lien mortgages, with an average seasoning of less than three months and a total of 3,741 loans originated by PennyMac Loan Services, LLC [1] - The collateral is characterized by fully amortizing, fixed-rate mortgages with varying terms: 10-year (0.4%), 15-year (0.6%), 20-year (78.5%), and 30-year (20.5%) [1] Rating Methodology - KBRA's rating approach includes loan-level analysis through its Residential Asset Loss Model (REALM), third-party loan file due diligence, cash flow modeling analysis, and reviews of key transaction parties [2] - The assessment also involves an evaluation of the transaction's legal structure and documentation, as detailed in KBRA's U.S. RMBS Rating Methodology [2]