Flagstar Mortgage Trust 2021-12: Rating Report

DBRS, Inc. (DBRS Morningstar) finalized provisional ratings on Flagstar Mortgage Trust 2021-12, a securitization of a portfolio of first-lien, fixed-rate, prime residential mortgages funded by the issuance of the Mortgage Pass-Through Certificates, Series 2021-12 (the Certificates). The Certificates are backed by 855 loans with a total principal balance of $754,714,5711 as of the Cut-Off Date (November 1, 2021).