Kroll Issues Preliminary Ratings for Starwood Certificates

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Kroll Bond Rating Agency has assigned preliminary ratings to six classes of Starwood Waypoint Residential Trust single-family pass-through certificates collectively known as SWAY 2014-1.

The certificates, representing 4,095 first priority mortgages on single-family rental homes, are collateral for a $531 million floating rate loan. This is the first securitization that the company, based in Oakland, Calif., has issued.

The collateral properties come from seven states, with Florida, Texas and Georgia representing the largest market exposures. The underlying value of the collateral properties is $720.7 million. Approximately $234.2 million of the certificates are rated AAA.

 

Article source: http://www.nationalmortgagenews.com/news/secondary/kroll-issues-preliminary-ratings-for-starwood-certificates-1043248-1.html

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