Kroll Bond Rating Agency Affirms Ratings On Sequoia Mortgage Trust 2012-1 Certificates

NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (KBRA) affirms eight classes of mortgage pass-through certificates from Sequoia Mortgage Trust (SEMT) 2012-1, a jumbo prime RMBS transaction (see ratings listed below).

The transaction is secured by two pools of first-lien residential mortgage loans. All of the mortgage loans are secured by first liens on one-to-four family residential properties, condominiums, coops, planned unit developments and townhouses.

The rating affirmations follow our review of the transaction which utilized information obtained from the Trustee, U.S. Bank National Association. The SEMT 2012-1 mortgage pool has experienced no loss and minimal delinquency since issuance. There are currently no delinquent loans in the mortgage pool. Additionally, principal payments on the pool have resulted in increased credit enhancement to each of the rated classes. KBRA’s analysis of home price trends indicate that the mortgage pool also benefits from home prices which on average have risen since issuance.

For more information on SEMT 2012-1, please see our report, “SEMT 2012-1 RMBS Surveillance Report”, which was published on January 25, 2013 at www.krollbondratings.com.

Class	Rating	Balance (USD 1000s)	Rating Action
1-A1	AAA (sf)	$136,578	Affirmed
2-A1	AAA (sf)	$146,934	Affirmed
1-AX	AAA (sf)	$136,578 (1)	Affirmed
2-AX	AAA (sf)	$146,934 (1)	Affirmed
B-1	AA (sf)	$10,798	Affirmed
B-2	A (sf)	$8,150	Affirmed
B-3	BBB (sf)	$5,094	Affirmed
B-4	BB (sf)	$5,297	Affirmed
(1) Notional Amount

Related publications:

SEMT 2012-1 RMBS Surveillance Report

Sequoia Mortgage Trust 2012-1 Pre-Sale Report

U.S. RMBS Rating Methodology, published January 9, 2012

Residential Mortgage Default and Loss Model, published January 9, 2012

About Kroll Bond Rating Agency

KBRA was established in 2010 by Jules Kroll to restore trust in credit ratings by creating new standards for assessing risk and by offering accurate, clear and transparent ratings. KBRA is registered with the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization (NRSRO). In addition, KBRA is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP).