DBRS Takes Rating Actions on 14 U.S. RMBS Transactions

DBRS, Inc. (DBRS) reviewed 229 classes from 14 U.S. residential mortgage-backed securities (RMBS) transactions. DBRS confirmed all 229 ratings reviewed.

For transactions where the ratings have been confirmed, current asset performance and credit support levels are consistent with the current ratings.

The rating actions are the result of DBRS’s application of “RMBS Insight 1.3: U.S. Residential Mortgage-Backed Securities Model and Rating Methodology,” published on April 4, 2017.

The transactions consist of U.S. RMBS transactions. The pools backing these transactions consist of prime, agency credit, seasoned and reperforming collateral.

The ratings assigned to the securities listed below differ from the ratings implied by the quantitative model. DBRS considers this difference to be a material deviation, but in this case, the ratings of the subject notes reflect certain structural features and historical performance that constrain the quantitative model output.

-- Bayview Mortgage Fund IVc Trust 2017-RT3, Mortgage-Backed Securities, Series 2017-RT3, Class B2
-- Bayview Mortgage Fund IVc Trust 2017-RT3, Mortgage-Backed Securities, Series 2017-RT3, Class B2-IO
-- Bayview Mortgage Fund IVc Trust 2017-RT3, Mortgage-Backed Securities, Series 2017-RT3, Class B3
-- Bayview Mortgage Fund IVc Trust 2017-RT3, Mortgage-Backed Securities, Series 2017-RT3, Class B3-IOA
-- Bayview Mortgage Fund IVc Trust 2017-RT3, Mortgage-Backed Securities, Series 2017-RT3, Class B3-IOB
-- CIM Trust 2017-7, Mortgage-Backed Notes Series 2017-7, Class M2
-- CIM Trust 2017-7, Mortgage-Backed Notes Series 2017-7, Class M2-IO
-- CIM Trust 2017-7, Mortgage-Backed Notes Series 2017-7, Class M3
-- CIM Trust 2017-7, Mortgage-Backed Notes Series 2017-7, Class M3-IO
-- CIM Trust 2017-7, Mortgage-Backed Notes Series 2017-7, Class B1
-- CIM Trust 2017-7, Mortgage-Backed Notes Series 2017-7, Class B2
-- COLT 2017-2 Mortgage Loan Trust, COLT 2017-2 Mortgage Pass-Through Certificates, Series 2017-2, Class A-3A
-- COLT 2017-2 Mortgage Loan Trust, COLT 2017-2 Mortgage Pass-Through Certificates, Series 2017-2, Class A-3B
-- COLT 2017-2 Mortgage Loan Trust, COLT 2017-2 Mortgage Pass-Through Certificates, Series 2017-2, Class A-3C
-- COLT 2017-2 Mortgage Loan Trust, COLT 2017-2 Mortgage Pass-Through Certificates, Series 2017-2, Class A-3XA
-- COLT 2017-2 Mortgage Loan Trust, COLT 2017-2 Mortgage Pass-Through Certificates, Series 2017-2, Class A-3XB
-- COLT 2017-2 Mortgage Loan Trust, COLT 2017-2 Mortgage Pass-Through Certificates, Series 2017-2, Class M-1
-- Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Asset Backed Securities, Series 2017-2, Class M-1
-- Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Asset Backed Securities, Series 2017-2, Class M-2
-- Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Series 2017-3, Class M-1
-- Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Series 2017-3, Class M-2
-- Towd Point Mortgage Trust 2017-3, Asset Backed Securities Series 2017-3, Class A4
-- Towd Point Mortgage Trust 2017-3, Asset Backed Securities Series 2017-3, Class M1
-- Towd Point Mortgage Trust 2017-3, Asset Backed Securities Series 2017-3, Class M2
-- Towd Point Mortgage Trust 2017-3, Asset Backed Securities Series 2017-3, Class B1
-- Towd Point Mortgage Trust 2017-3, Asset Backed Securities Series 2017-3, Class B2
-- New Residential Mortgage Loan Trust 2017-5, Mortgage-Backed Notes, Series 2017-5, Class B-4
-- New Residential Mortgage Loan Trust 2017-5, Mortgage-Backed Notes, Series 2017-5, Class B-4A
-- New Residential Mortgage Loan Trust 2017-5, Mortgage-Backed Notes, Series 2017-5, Class B-4B
-- New Residential Mortgage Loan Trust 2017-5, Mortgage-Backed Notes, Series 2017-5, Class B4-IOA
-- New Residential Mortgage Loan Trust 2017-5, Mortgage-Backed Notes, Series 2017-5, Class B4-IOB
-- New Residential Mortgage Loan Trust 2017-5, Mortgage-Backed Notes, Series 2017-5, Class B-5
-- New Residential Mortgage Loan Trust 2017-5, Mortgage-Backed Notes, Series 2017-5, Class B-5A
-- New Residential Mortgage Loan Trust 2017-5, Mortgage-Backed Notes, Series 2017-5, Class B-5B
-- New Residential Mortgage Loan Trust 2017-5, Mortgage-Backed Notes, Series 2017-5, Class B5-IOA
-- New Residential Mortgage Loan Trust 2017-5, Mortgage-Backed Notes, Series 2017-5, Class B5-IOB
-- New Residential Mortgage Loan Trust 2017-5, Mortgage-Backed Notes, Series 2017-5, Class B-IO
-- New Residential Mortgage Loan Trust 2017-5, Mortgage-Backed Notes, Series 2017-5, Class IO
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-2
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-2A
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-2B
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-2C
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B2-IO
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B2-IOA
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B2-IOB
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B2-IOC
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-3
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-3A
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-3B
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-3C
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B3-IO
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B3-IOA
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B3-IOB
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B3-IOC
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-4
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-4A
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-4B
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-4C
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B4-IOA
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B4-IOB
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B4-IOC
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-5
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-5A
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-5B
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-5C
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-5D
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B5-IOA
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B5-IOB
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B5-IOC
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B5-IOD
-- New Residential Mortgage Loan Trust 2017-6, Mortgage-Backed Notes, Series 2017-6, Class B-7
-- CSMC Trust 2013-7, Mortgage Pass-through Certificates, Series 2013-7, Class A-IO-S
-- CSMC Trust 2013-7, Mortgage Pass-Through Certificates, Series 2013-7, Class B-4
-- CSMC Trust 2014-WIN2, Mortgage Pass-Through Certificates, Series 2014-WIN2, Class A-IO-S
-- CSMC Trust 2014-WIN2, Mortgage Pass-Through Certificates, Series 2014-WIN2, Class B-4
-- CSMC Trust 2015-3, Mortgage Pass-Through Certificates, Series 2015-3, Class A-IO-S
-- CSMC Trust 2015-3, Mortgage Pass-Through Certificates, Series 2015-3, Class B-4

Notes:
All figures are in U.S. dollars unless otherwise noted.

The principal methodologies are U.S. RMBS Surveillance Methodology and RMBS Insight 1.3: U.S. Residential Mortgage-Backed Securities Model and Rating Methodology, which can be found on dbrs.com under Methodologies.

The rated entity or its related entities did not participate in the rating process for this rating action. DBRS did not have access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.