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KBRA Assigns Preliminary Ratings to New Residential Mortgage Loan Trust 2026-NQM8 (NRMLT 2026-NQM8)

  • KBRA assigned preliminary ratings to 10 classes of mortgage-backed notes for New Residential Mortgage Loan Trust 2026-NQM8 (NRMLT 2026-NQM8).
  • The transaction is a $480.2 million non-prime RMBS deal sponsored by Rithm Capital Corp. (NYSE: RITM).
  • 51.3% of the underlying mortgages were originated by NewRez LLC, while 20.3% were originated by Champions LLC.
  • NewRez LLC will service all loans within the transaction.
  • The collateral pool consists of 883 residential mortgages seasoned for approximately three months.
  • Borrowers have a weighted average original credit score of 751.
  • The pool exhibits a weighted average original loan-to-value (LTV) of 71.1% and a combined LTV (CLTV) of 71.1%.
  • KBRA utilized its Residential Asset Loss Model (REALM), third-party due diligence, cash flow modeling, \& legal structure reviews to determine ratings.
  • Full rating reports, methodologies, \& disclosures are available via links provided in the announcement.
  • KBRA is a registered NRSRO with the U.S. SEC, registered with ESMA, FCA, \& recognized by various international regulatory bodies.