New York, June 04, 2013 -- Moody's Investors Service has assigned provisional ratings of (P)Aaa (sf) to two classes of residential mortgage-backed securities (RMBS) issued by Sequoia Mortgage Trust (SEMT) 2013-8. The certificates are backed by one pool of prime quality, first-lien mortgage loans. The mortgage loans in the pool are all fixed-rate and they have primarily 30-year terms. The borrowers in the pool have high FICO scores, significant liquid cash reserves and equity in their properties. The enhancement levels on this transaction are slightly higher than on the most recent two Sequoia transactions we rated (2013-6 and 2013-4), reflecting a slightly higher weighted average LTV and 7%-11% more concentration in the 75%-80% LTV bucket than in those transactions.

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