Skip to main content

KBRA Assigns Preliminary Ratings to JPMMT 2022-3

David Krechevsky
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 (registration required).

Mar 21, 2022
DBRS Morningstar Rates Velocity Commercial Capital Loan Trust 2023-1

VCC 2023-1 is backed by 695 mortgage loans with a total principal balance of $240,308,194.

Jan 24, 2023
Fannie Mae Announces Results Of 28th Reperforming Loan Sale

The sale included approximately 10,100 loans totaling $1.9 billion in UPB, divided into five pools.

Jan 17, 2023
Ellington Financial Completes First Non-QM Loan Securitization Of 2023

EFI contributed about 85% of the loans, with the remainder contributed by a fund managed by Ellington Management Group L.L.C.

Jan 05, 2023
Fannie Mae Launches New Single-Family Social Disclosures

New disclosures provide a view into socially oriented lending activities.

Nov 16, 2022
Fannie Mae Announces Winner of 20th CIP Of Non-Performing Loans

Transaction includes approximately 61 loans totaling $13 million in unpaid principal balance.

Oct 25, 2022
Fannie Mae Names Winners Of Its 20th Non-Performing Loan Sale

Sold approximately 5,650 loans totaling $936.9 million in unpaid principal balance, divided into four pools. 

Oct 12, 2022