Press Release

Morningstar DBRS Takes Credit Rating Actions on 24 U.S. RMBS Transactions

RMBS

January 10, 2025

DBRS, Inc. (Morningstar DBRS) reviewed 230 classes from 24 U.S. residential mortgage-backed securities (RMBS) transactions. Of the 24 transactions reviewed, seven are classified as non-qualified mortgage transactions, fifteen are classified as re-performing mortgage transactions, one is a prime mortgage transaction and one is classified as small-balance commercial mortgage transaction collateralized by various types of commercial, multifamily rental, and mixed-use properties. Of the 230 classes reviewed, Morningstar DBRS upgraded its credit ratings on 65 classes and confirmed its credit ratings on 165 classes.

CREDIT RATING RATIONALE/DESCRIPTION

The credit rating upgrades reflect a positive performance trend and an increase in credit support sufficient to withstand stresses at the new credit rating level. The credit rating confirmations reflect asset performance and credit support levels that are consistent with the current credit ratings.

The transaction assumptions consider Morningstar DBRS' baseline macroeconomic scenarios for rated sovereign economies, available in its commentary "Baseline Macroeconomic Scenarios for Rated Sovereigns December 2024 Update" published on December 19, 2024 (https://dbrs.morningstar.com/research/444924). These baseline macroeconomic scenarios replace Morningstar DBRS' moderate and adverse coronavirus pandemic scenarios, which were first published in April 2020.

The credit rating actions are the result of Morningstar DBRS' application of its "U.S. RMBS Surveillance Methodology," published on June 28, 2024 (https://dbrs.morningstar.com/research/435291).

Morningstar DBRS' credit ratings on the applicable classes address the credit risk associated with the identified financial obligations in accordance with the relevant transaction documents. Where applicable, a description of these financial obligations can be found in the transactions' respective press releases at issuance.

Morningstar DBRS' long-term credit ratings provide opinions on risk of default. Morningstar DBRS considers risk of default to be the risk that an issuer will fail to satisfy the financial obligations in accordance with the terms under which a long-term obligation has been issued. The Morningstar DBRS short-term debt credit rating scale provides an opinion on the risk that an issuer will not meet its short-term financial obligations in a timely manner.

ENVIRONMENTAL, SOCIAL, AND GOVERNANCE CONSIDERATIONS
There were no Environmental/Social/Governance factors that had a significant or relevant effect on the credit analysis.

A description of how Morningstar DBRS considers ESG factors within the Morningstar DBRS analytical framework can be found in the Morningstar DBRS Criteria: Approach to Environmental, Social, and Governance Factors in Credit Ratings (August 13, 2024) at https://dbrs.morningstar.com/research/437781.

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

The principal methodology applicable to the credit ratings is U.S. RMBS Surveillance Methodology (June 28, 2024), https://dbrs.morningstar.com/research/435291 and North American CMBS Surveillance Methodology (December 13, 2024), https://dbrs.morningstar.com/research/444617

Other methodologies referenced in this transaction are listed at the end of this press release.

The credit ratings assigned to the classes below materially deviate from the credit ratings implied by the predictive model. Morningstar DBRS typically expects there to be a substantial likelihood that a reasonable investor or other user of the credit ratings would consider a three-notch or more deviation from the credit rating stresses implied by the predictive model to be a significant factor in evaluating the credit ratings.

The below tranches materially deviate because additional seasoning and/or updated performance is to be measured against a sustainable upgrade loan level cash flow stress:

-- BINOM Securitization Trust 2022-RPL1, BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class M3
-- BINOM Securitization Trust 2022-RPL1, BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class B1
-- BINOM Securitization Trust 2022-RPL1, BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class B2
-- CIM Trust 2023-R2, Mortgage-Backed Notes, Series 2023-R2, Class B1
-- CIM Trust 2023-R2, Mortgage-Backed Notes, Series 2023-R2, Class B2
-- GS Mortgage-Backed Securities Trust 2021-RPL1, Mortgage-Backed Securities Trust 2021-RPL1, Class B-2
-- GS Mortgage-Backed Securities Trust 2022-RPL1, Mortgage-Backed Securities, Series 2022-RPL1, Class B-1
-- GS Mortgage-Backed Securities Trust 2022-RPL1, Mortgage-Backed Securities, Series 2022-RPL1, Class B-2
-- GS Mortgage-Backed Securities Trust 2022-RPL2, Mortgage-Backed Securities, Series 2022-RPL2, Class B-2
-- GS Mortgage-Backed Securities Trust 2024-RPL2, Mortgage-Backed Securities, Series 2024-RPL2, Class M-1
-- GS Mortgage-Backed Securities Trust 2024-RPL2, Mortgage-Backed Securities, Series 2024-RPL2, Class M-2
-- GS Mortgage-Backed Securities Trust 2024-RPL2, Mortgage-Backed Securities, Series 2024-RPL2, Class B-1
-- GS Mortgage-Backed Securities Trust 2024-RPL2, Mortgage-Backed Securities, Series 2024-RPL2, Class B-2
-- Mill City Mortgage Loan Trust 2021-NMR1, Mortgage-Backed Securities, Series 2021-NMR1, Class B2
-- PRPM 2024-RPL1, LLC, Mortgage-Backed Notes, Series 2024-RPL1, Class A-3
-- PRPM 2024-RPL1, LLC, Mortgage-Backed Notes, Series 2024-RPL1, Class M-1
-- PRPM 2024-RCF1, LLC, Asset-Backed Notes, Series 2024-RCF1, Class A-3
-- PRPM 2024-RCF1, LLC, Asset-Backed Notes, Series 2024-RCF1, Class M-1
-- PRPM 2024-RCF1, LLC, Asset-Backed Notes, Series 2024-RCF1, Class M-2
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M-1
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M-2
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M-3
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M-4
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M-5

The below tranches materially deviate because of dependency on another rating (such as interest only tranche or exchangeable tranche:

-- GS Mortgage-Backed Securities Trust 2024-RPL2, Mortgage-Backed Securities, Series 2024-RPL2, Class A-4
-- GS Mortgage-Backed Securities Trust 2024-RPL2, Mortgage-Backed Securities, Series 2024-RPL2, Class A-5
-- Mill City Mortgage Loan Trust 2021-NMR1, Mortgage-Backed Securities, Series 2021-NMR1, Class B2A
-- Mill City Mortgage Loan Trust 2021-NMR1, Mortgage-Backed Securities, Series 2021-NMR1, Class B2B
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M1-A
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M1-IO
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M2-A
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M2-IO
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M3-A
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M3-IO
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M4-A
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M4-IO
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M5-A
-- Velocity Commercial Capital Loan Trust 2024-1, Mortgage-Backed Certificates, Series 2024-1, Class M5-IO

The credit ratings were initiated at the request of the rated entities.

The rated entity or its related entities did participate in the credit rating process for these credit rating actions.

Morningstar DBRS had access to the accounts, management, and other relevant internal documents of the rated entity or its related entities in connection with these credit rating actions.

These are solicited credit ratings.

DBRS, Inc.
140 Broadway, 43rd Floor
New York, NY 10005 USA
Tel. +1 212 806-3277

The credit rating methodologies used in the analysis of these transactions can be found at: https://dbrs.morningstar.com/about/methodologies.

-- RMBS Insight 1.3: U.S. Residential Mortgage-Backed Securities Model and Rating Methodology (January 02, 2025), https://dbrs.morningstar.com/research/445477

-- Interest Rate Stresses for U.S. Structured Finance Transactions (February 26, 2024), https://dbrs.morningstar.com/research/428623

-- Legal Criteria for U.S. Structured Finance (December 3, 2024), https://dbrs.morningstar.com/research/444064

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

Ratings

A&D Mortgage Trust 2024-NQM1

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage Pass-Through Certificates, Series 2024-NQM1, Class A-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2024-NQM1, Class A-2	AA (low) (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2024-NQM1, Class A-3	A (low) (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2024-NQM1, Class M-1	BBB (low) (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2024-NQM1, Class B-1	BB (low) (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2024-NQM1, Class B-2	B (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class A1	AAA (sf)	--	Confirmed	US
10-Jan-25	BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class M1	AAA (sf)	--	Upgraded	US
10-Jan-25	BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class M2	AA (sf)	--	Upgraded	US
10-Jan-25	BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class M3	A (sf)	--	Upgraded	US
10-Jan-25	BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class B1	BBB (sf)	--	Upgraded	US
10-Jan-25	BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class B2	BB (sf)	--	Upgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Notes, Series 2022-RPL1, Class A-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-RPL1, Class A-2	AA (high) (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-RPL1, Class A-3	AA (high) (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-RPL1, Class A-4	AA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-RPL1, Class M-1	AA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-RPL1, Class A-5	A (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-RPL1, Class M-2	A (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-RPL1, Class B-1	A (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-RPL1, Class B-2	BBB (low) (sf)	--	Upgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Notes, Series 2023-NQM1, Class A-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2023-NQM1, Class A-2	AA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2023-NQM1, Class A-3	A (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2023-NQM1, Class M-1	A (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Notes, Series 2023-NQM1, Class B-1	BBB (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Notes, Series 2023-NQM1, Class B-2	BB (low) (sf)	--	Upgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Notes, Series 2019-R2, Class A1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2019-R2, Class A1-A	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2019-R2, Class A1-B	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2019-R2, Class A1-IO	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2019-R2, Class M1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2019-R2, Class M1-IO	AAA (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Notes, Series 2020-R2, Class A1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2020-R2, Class A1-A	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2020-R2, Class A1-B	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2020-R2, Class A1-IO	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2020-R2, Class M1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2020-R2, Class M1-IO	AAA (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Notes, Series 2022-R1, Class A1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-R1, Class A1-A	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-R1, Class A1-B	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-R1, Class M1	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-R1, Class M2	AA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-R1, Class M3	A (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-R1, Class B1	BBB (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Notes, Series 2022-R1, Class B2	BB (sf)	--	Upgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Notes, Series 2023-R2, Class A1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Notes, Series 2023-R2, Class A2	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Notes, Series 2023-R2, Class M1	AA (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Notes, Series 2023-R2, Class M2	A (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Notes, Series 2023-R2, Class B1	BBB (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Notes, Series 2023-R2, Class B2	BB (high) (sf)	--	Upgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Notes, Series 2021-RP6, Class A-1	AAA (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Securities, Series 2018-RPL1, Class A1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2018-RPL1, Class A1A	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2018-RPL1, Class A1A1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2018-RPL1, Class A1A2	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2018-RPL1, Class A1B	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2018-RPL1, Class A2	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2018-RPL1, Class A3	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2018-RPL1, Class M1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2018-RPL1, Class M2	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2018-RPL1, Class B1	AA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2018-RPL1, Class B2	BBB (sf)	--	Upgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Securities Trust 2021-RPL1, Class A-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities Trust 2021-RPL1, Class A-2	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities Trust 2021-RPL1, Class A-3	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities Trust 2021-RPL1, Class A-4	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities Trust 2021-RPL1, Class A-5	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities Trust 2021-RPL1, Class M-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities Trust 2021-RPL1, Class M-2	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities Trust 2021-RPL1, Class B-1	AA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities Trust 2021-RPL1, Class B-2	A (sf)	--	Upgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL1, Class A-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL1, Class A-2	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL1, Class A-3	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL1, Class A-4	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL1, Class M-1	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL1, Class A-5	AA (high) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL1, Class M-2	AA (high) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL1, Class B-1	A (high) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL1, Class B-2	BBB (high) (sf)	--	Upgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL2, Class A-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL2, Class A-2	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL2, Class A-3	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL2, Class A-4	AA (high) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL2, Class M-1	AA (high) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL2, Class A-5	AA (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL2, Class M-2	AA (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL2, Class B-1	A (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2022-RPL2, Class B-2	BBB (low) (sf)	--	Upgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Securities, Series 2024-RPL2, Class A-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2024-RPL2, Class A-2	AA (high) (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2024-RPL2, Class A-3	AA (high) (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2024-RPL2, Class A-4	A (high) (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2024-RPL2, Class M-1	A (high) (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2024-RPL2, Class A-5	BBB (high) (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2024-RPL2, Class M-2	BBB (high) (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2024-RPL2, Class B-1	BB (high) (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2024-RPL2, Class B-2	B (high) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-NQM1, Class A-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-NQM1, Class A-2	AA (sf)	--	Upgraded	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-NQM1, Class A-3	A (low) (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-NQM1, Class M-1	BBB (low) (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-NQM1, Class B-1	BB (low) (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-NQM1, Class B-2	B (low) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage Pass-Through Certificates, Series 2021-INV1, Class A-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2021-INV1, Class A-2	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2021-INV1, Class A-3	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2021-INV1, Class M-1	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2021-INV1, Class B-1	AA (sf)	--	Upgraded	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2021-INV1, Class B-2	AA (low) (sf)	--	Upgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-INV1, Class A-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-INV1, Class A-2	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-INV1, Class A-3	AA (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-INV1, Class M-1	A (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-INV1, Class B-1	BBB (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-INV1, Class B-2	BB (low) (sf)	--	Upgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-NQM1, Class A-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-NQM1, Class A-2	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-NQM1, Class A-3	A (high) (sf)	--	Confirmed	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-NQM1, Class M-1	A (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-NQM1, Class B-1	BBB (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage Pass-Through Certificates, Series 2023-NQM1, Class B-2	B (high) (sf)	--	Confirmed	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class A1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class A1B	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class A2	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class A3	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class A4	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class M1	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class M2	AAA (sf)	--	Confirmed	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class M3	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class M3A	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class M3B	AAA (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class B1	AA (high) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class B1A	AA (high) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class B1B	AA (high) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class B2	AA (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class B2A	AA (low) (sf)	--	Upgraded	US
10-Jan-25	Mortgage-Backed Securities, Series 2021-NMR1, Class B2B	AA (low) (sf)	--	Upgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
10-Jan-25	Asset-Backed Notes, Series 2024-RCF1, Class A-1	AAA (sf)	--	Confirmed	US
10-Jan-25	Asset-Backed Notes, Series 2024-RCF1, Class A-2	AA (sf)	--	Confirmed	US
10-Jan-25	Asset-Backed Notes, Series 2024-RCF1, Class A-3	A (sf)	--	Confirmed	US
10-Jan-25	Asset-Backed Notes, Series 2024-RCF1, Class M-1	BBB (sf)	--	Confirmed	US
10-Jan-25	Asset-Backed Notes, Series 2024-RCF1, Class M-2	BB (sf)	--	Confirmed	US

Show More Issuers

A&D Mortgage Trust 2024-NQM1

Mortgage Pass-Through Certificates, Series 2024-NQM1, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2024-NQM1, Class A-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AA (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2024-NQM1, Class A-3

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2024-NQM1, Class M-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2024-NQM1, Class B-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:BB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2024-NQM1, Class B-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:B (low) (sf)
Trend:--
Rating Recovery:
Issued:US

BINOM Securitization Trust 2022-RPL1

BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class A1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class M1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class M2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:US

BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class M3

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class B1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

BINOM 2022-RPL1 Mortgage-Backed Notes, Series 2022-RPL1, Class B2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BB (sf)
Trend:--
Rating Recovery:
Issued:US

BRAVO Residential Funding Trust 2022-RPL1

Mortgage-Backed Notes, Series 2022-RPL1, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-RPL1, Class A-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AA (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-RPL1, Class A-3

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AA (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-RPL1, Class A-4

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-RPL1, Class M-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-RPL1, Class A-5

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-RPL1, Class M-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-RPL1, Class B-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-RPL1, Class B-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

BRAVO Residential Funding Trust 2023-NQM1

Mortgage-Backed Notes, Series 2023-NQM1, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2023-NQM1, Class A-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2023-NQM1, Class A-3

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2023-NQM1, Class M-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2023-NQM1, Class B-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2023-NQM1, Class B-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

CIM Trust 2019-R2

Mortgage-Backed Notes, Series 2019-R2, Class A1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2019-R2, Class A1-A

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2019-R2, Class A1-B

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2019-R2, Class A1-IO

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2019-R2, Class M1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2019-R2, Class M1-IO

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

CIM Trust 2020-R2

Mortgage-Backed Notes, Series 2020-R2, Class A1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2020-R2, Class A1-A

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2020-R2, Class A1-B

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2020-R2, Class A1-IO

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2020-R2, Class M1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2020-R2, Class M1-IO

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

CIM Trust 2022-R1

Mortgage-Backed Notes, Series 2022-R1, Class A1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-R1, Class A1-A

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-R1, Class A1-B

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-R1, Class M1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-R1, Class M2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-R1, Class M3

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-R1, Class B1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2022-R1, Class B2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BB (sf)
Trend:--
Rating Recovery:
Issued:US

CIM Trust 2023-R2

Mortgage-Backed Notes, Series 2023-R2, Class A1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2023-R2, Class A2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2023-R2, Class M1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2023-R2, Class M2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2023-R2, Class B1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Notes, Series 2023-R2, Class B2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Citigroup Mortgage Loan Trust 2021-RP6

Mortgage-Backed Notes, Series 2021-RP6, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

GS Mortgage-Backed Securities Trust 2018-RPL1

Mortgage-Backed Securities, Series 2018-RPL1, Class A1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2018-RPL1, Class A1A

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2018-RPL1, Class A1A1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2018-RPL1, Class A1A2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2018-RPL1, Class A1B

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2018-RPL1, Class A2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2018-RPL1, Class A3

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2018-RPL1, Class M1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2018-RPL1, Class M2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2018-RPL1, Class B1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2018-RPL1, Class B2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

GS Mortgage-Backed Securities Trust 2021-RPL1

Mortgage-Backed Securities Trust 2021-RPL1, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities Trust 2021-RPL1, Class A-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities Trust 2021-RPL1, Class A-3

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities Trust 2021-RPL1, Class A-4

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities Trust 2021-RPL1, Class A-5

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities Trust 2021-RPL1, Class M-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities Trust 2021-RPL1, Class M-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities Trust 2021-RPL1, Class B-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities Trust 2021-RPL1, Class B-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

GS Mortgage-Backed Securities Trust 2022-RPL1

Mortgage-Backed Securities, Series 2022-RPL1, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL1, Class A-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL1, Class A-3

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL1, Class A-4

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL1, Class M-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL1, Class A-5

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL1, Class M-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL1, Class B-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:A (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL1, Class B-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

GS Mortgage-Backed Securities Trust 2022-RPL2

Mortgage-Backed Securities, Series 2022-RPL2, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL2, Class A-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL2, Class A-3

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL2, Class A-4

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL2, Class M-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL2, Class A-5

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL2, Class M-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL2, Class B-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2022-RPL2, Class B-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

GS Mortgage-Backed Securities Trust 2024-RPL2

Mortgage-Backed Securities, Series 2024-RPL2, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2024-RPL2, Class A-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AA (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2024-RPL2, Class A-3

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AA (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2024-RPL2, Class A-4

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:A (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2024-RPL2, Class M-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:A (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2024-RPL2, Class A-5

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2024-RPL2, Class M-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2024-RPL2, Class B-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:BB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2024-RPL2, Class B-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:B (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Imperial Fund Mortgage Trust 2023-NQM1

Mortgage Pass-Through Certificates, Series 2023-NQM1, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-NQM1, Class A-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-NQM1, Class A-3

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-NQM1, Class M-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-NQM1, Class B-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:BB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-NQM1, Class B-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:B (low) (sf)
Trend:--
Rating Recovery:
Issued:US

MFA 2021-INV1 Trust

Mortgage Pass-Through Certificates, Series 2021-INV1, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2021-INV1, Class A-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2021-INV1, Class A-3

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2021-INV1, Class M-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2021-INV1, Class B-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2021-INV1, Class B-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (low) (sf)
Trend:--
Rating Recovery:
Issued:US

MFA 2023-INV1 Trust

Mortgage Pass-Through Certificates, Series 2023-INV1, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-INV1, Class A-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-INV1, Class A-3

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-INV1, Class M-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-INV1, Class B-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-INV1, Class B-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

MFA 2023-NQM1 Trust

Mortgage Pass-Through Certificates, Series 2023-NQM1, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-NQM1, Class A-2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-NQM1, Class A-3

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:A (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-NQM1, Class M-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:A (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-NQM1, Class B-1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage Pass-Through Certificates, Series 2023-NQM1, Class B-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:B (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mill City Mortgage Loan Trust 2021-NMR1

Mortgage-Backed Securities, Series 2021-NMR1, Class A1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class A1B

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class A2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class A3

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class A4

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class M1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class M2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class M3

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class M3A

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class M3B

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class B1

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class B1A

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class B1B

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class B2

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class B2A

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Mortgage-Backed Securities, Series 2021-NMR1, Class B2B

Date Issued:Jan 10, 2025
Rating Action:Upgraded
Ratings:AA (low) (sf)
Trend:--
Rating Recovery:
Issued:US

PRPM 2024-RCF1, LLC

Asset-Backed Notes, Series 2024-RCF1, Class A-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:US

Asset-Backed Notes, Series 2024-RCF1, Class A-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:US

Asset-Backed Notes, Series 2024-RCF1, Class A-3

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:US

Asset-Backed Notes, Series 2024-RCF1, Class M-1

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

Asset-Backed Notes, Series 2024-RCF1, Class M-2

Date Issued:Jan 10, 2025
Rating Action:Confirmed
Ratings:BB (sf)
Trend:--
Rating Recovery:
Issued:US

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ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.

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Contacts

Cathlene H. Hyun
Senior Vice President - US RMBS Ratings, Surveillance
+(1) 212 806 3247
cathlene.hyun@morningstar.com
Sherwin Clarke
Vice President - US RMBS Ratings, Surveillance
+(1) 212 806 3278
sherwin.clarke@morningstar.com
Jan Buckler
Senior Vice President, Sector Lead - Global Structured Finance Ratings
+(1) 212 806 3925
jan.buckler@morningstar.com
Claire Mezzanotte
Group Managing Director, Global Head of Structured Finance Ratings - Credit Ratings Leadership
+(1) 212 806 3272
claire.mezzanotte@morningstar.com

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Morningstar DBRS Takes Credit Rating Actions on 24 U.S. RMBS Transactions

Ratings

A&D Mortgage Trust 2024-NQM1

BINOM Securitization Trust 2022-RPL1

BRAVO Residential Funding Trust 2022-RPL1

BRAVO Residential Funding Trust 2023-NQM1

CIM Trust 2019-R2

CIM Trust 2020-R2

CIM Trust 2022-R1

CIM Trust 2023-R2

Citigroup Mortgage Loan Trust 2021-RP6

GS Mortgage-Backed Securities Trust 2018-RPL1

GS Mortgage-Backed Securities Trust 2021-RPL1

GS Mortgage-Backed Securities Trust 2022-RPL1

GS Mortgage-Backed Securities Trust 2022-RPL2

GS Mortgage-Backed Securities Trust 2024-RPL2

Imperial Fund Mortgage Trust 2023-NQM1

MFA 2021-INV1 Trust

MFA 2023-INV1 Trust

MFA 2023-NQM1 Trust

Mill City Mortgage Loan Trust 2021-NMR1

PRPM 2024-RCF1, LLC

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