NEW YORK--(BUSINESS WIRE)--
Kroll Bond Rating Agency (KBRA) affirms four classes of mortgage pass-through certificates from Sequoia Mortgage Trust (SEMT) 2012-3, a jumbo prime RMBS transaction (see ratings listed below).
The rating affirmations follow our review of the transaction which utilized information obtained from the Trustee, U.S. Bank N.A. The SEMT 2012-3 mortgage pool has experienced no losses and minimal delinquencies since issuance. There is currently one 30-day delinquent loan with a balance of $2.0 million, representing 0.91% of the current pool size. Additionally, principal payments on the pool have resulted in increased credit enhancement to each of the rated classes. KBRA’s analysis of home price trends indicate that the mortgage pool also benefits from home prices which on average have risen since issuance.
For more information on SEMT 2012-3, please see our report, “Sequoia Mortgage Trust Comprehensive Surveillance Report (SEMT 2010-H1 to SEMT 2012-3)”, which was published on May 7, 2013 at www.krollbondratings.com.
|Class||Rating||Balance (USD)||Rating Action|
|A-IO1||AAA (sf)||$194,943,300 (1)||Affirmed|
|A-IO2||AAA (sf)||$71,628,723 (1)||Affirmed|
(1) Notional Amount and Interest Only Certificates