Towd Point Mortgage Trust 2020-3: Rating Report

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings on Towd Point Mortgage Trust 2020-3 (TPMT 2020-3 or the Trust), a securitization of a portfolio of seasoned performing and reperforming primarily first-lien mortgages funded by the issuance of asset-backed notes (the Notes). The Notes are backed by 12,459 loans with a total principal balance $1,621,513,295 as of the Cut-Off Date (June 30, 2020).