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KBRA Releases Single-Borrower SFR Performance SnapshotKroll Bond Rating Agency (KBRA) releases a performance snapshot for the KBRA-rated universe of outstanding single-borrower, single-family rental (SFR (News - Alert)) securitizations. The 25 securitizations covered in the report have an outstanding principal balance of $14.9 billion, of which $14.1 billion is represented by 145 securities that have been rated by KBRA. None of the securities issued in connection with these transactions have experienced interest shortfalls or principal losses. As of March 2018, five SFR operators own more than 180,000 homes, of which 91,934 are included in the 25 securitizations covered in the report. KBRA performed the monitoring utilizing information obtained from the trustee and servicer for each deal to determine the performance metrics of the underlying collateral. The process also leveraged information from third-party sources including CoreLogic and RentRange. The credit and portfolio metrics were compiled using various sources, which included April 2018 remittance reports and detailed property-level data files provided by the servicer. The publication also provides key takeaways, including the following:
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Twitter About KBRA and KBRA Europe KBRA is a full service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA. View source version on businesswire.com: https://www.businesswire.com/news/home/20180516006186/en/ |