BRAVO Residential Funding Trust 2020-NQM1: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to BRAVO Residential Funding Trust 2020-NQM1 (BRAVO 2020-NQM1 or the Trust), a securitization of a portfolio of fixed- and adjustable-rate prime and non-prime first-lien residential mortgages funded by the issuance of the Mortgage-Backed Notes, Series 2020-NQM1 (the Notes). The Notes are backed by 806 loans with a total principal balance of $365,740,207 as of the Cut-Off Date1 (June 30, 2020).