Skip to main content

KBRA Assigns Preliminary Ratings to JPMMT 2022-3

Mar 21, 2022
KBRA New Logo

Pool comprises 891 residential mortgage loans with an aggregate principal balance of $1 billion.

KBRA has assigned preliminary ratings to 71 classes of mortgage pass-through certificates from J.P. Morgan Mortgage Trust 2022-3 (JPMMT 2022-3), the ratings agency said. 

The JPMMT 2022-3 loans were acquired by J.P. Morgan Mortgage Acquisition Corp. (JPMMAC), a residential mortgage conduit that resides within J.P. Morgan Securities LLC. JPMMAC purchases loans from a number of experienced third-party jumbo loan sellers.

The pool comprises 891 first-lien, fixed-rate residential mortgage loans with an aggregate principal balance of $1 billion as of the March 1, 2022, cut-off date. The pool includes both non-agency (96.8%) and agency-eligible (3.2%) loans. The weighted average original credit score is 765, which is well within the prime mortgage range.

KBRA assigned preliminary ratings as follows:

  • A-12-A, A-13-A, A-14-A, A-15-A, A-16-A, A-21, A-21-X, A-22, A-22-X, A-23, A-23-X, A-24, A-24-X, A-26-A, A-27-A, A-X-1, A-X-4-A, A-X-4-B: AAA
  • B-1-A, B-1-X: AA+
  • B-2-A, B-2-X: A
  • B-3: BBB
  • B-4: BB
  • B-5: B-
  • B-6, A-R: Not rated.

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.

For the full report, visit www.kbra.com (registration required).

About the author
David Krechevsky was an editor at NMP.
Published
Mar 21, 2022
High Home Prices Not Translating To Higher Seller Profits

Average profit margins decline for second year in a row, with Florida sellers hit hardest

Jan 23, 2025
Real Estate Investor Optimism Plummets At Year End

Confidence drops amid rising costs, insurance challenges, and policy uncertainty

Jan 08, 2025
Robert Greenberg Takes Strategy Role At Ternus Lending

Greenberg joins the company to drive technology adoption and elevate customer experience

Dec 16, 2024
Home Investors Split Over Harris, Trump Policies

Real estate investors are focused on financing costs and insurance challenges, with many expecting a U.S. recession in 2025.

Oct 02, 2024
Midwest, Northeast Markets Most Successful For Investors

Dayton, Ohio was identified as the top market for investors by Realtor.com

Oct 01, 2024
Investor Activity Shrinks Down During Q2

Investors made 80,000 purchases in June 2024, compared with 112,000 in June 2023

Sep 25, 2024