KBRA assigns preliminary ratings to JP Morgan Mortgage Trust 2021-9 (JPMMT 2021-9)

NEW YORK–(COMMERCIAL THREAD) – Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to 48 mortgage transfer certificate classes of JP Morgan Mortgage Trust 2021-9 (JPMMT 2021-9). The pool includes 347 fixed rate first residential mortgages with a total principal balance of $ 316.3 million as of the July 1, 2021 deadline. The pool includes both non-agency loans (89 , 6%) and eligible by agencies (10.4%). The initial weighted average credit score is 781, which is well within the range for prime mortgages.

KBRA’s scoring approach included loan-level analysis of the mortgage pool through its KBRA RMBS credit model, review of due diligence results of third-party loan files, cash flow modeling analysis the payment structure of the transaction, reviews of key parties to the transaction, and an assessment of the legal structure and documentation of the transaction. This analysis is described in more detail in our US RMBS rating methodology.

Click here to view the report. To access the assessments and relevant documents, click here.

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Disclosures

Further information on key credit considerations, sensitivity analyzes which examine the factors that may affect these credit ratings and how they could lead to an improvement or a downgrade, and ESG factors (when they are a factor). key to the change in credit rating or rating outlook) can be found in the full assessment report mentioned above.

A description of all substantially significant sources that were used to prepare the credit rating and information about the method (s) (including significant models and sensitivity analyzes of the relevant key rating assumptions, if any) used to determine The credit rating is available in the Information Disclosure Form (s) located here.

Here you will find information about the meaning of each rating category.

Further information relating to this rating measure is available in the information disclosure form (s) referenced above. Additional information regarding KBRA’s policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the United States Securities and Exchange Commission as NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a credit rating agency with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a credit rating agency with the UK Financial Conduct Authority under the temporary registration regime. In addition, KBRA is appointed as the designated rating agency by the Ontario Securities Commission for issuers of asset-backed securities to file a simplified prospectus or a shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a credit rating provider.


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