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Investments

It's official: JPMorgan brings private, jumbo RMBS

Their first such deal this year

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JPMorgan Chase & Co. (JPM) is issuing a jumbo prime residential mortgage backed securitization to the private bond market. It's their first such deal this year.

Kroll Bond Ratings just released a pre-sale report for investors, making the deal official. JPM originally declined to comment.

The mortgage pool backing J.P. Morgan Mortgage Trust 2014-1 is comprised of 412 first-lien mortgage loans with an aggregate principal balance of $356 million.

Most of the loans in the pool are all fixed-rate mortgages with 30-year maturities. A significant portion is rated triple-A.

The weighted average LTV is 71%.

"The weighted average credit score of the mortgage pool is 761, which is within the “prime” mortgage range," Kroll said in the presale.

Kroll cites the representation and warranties on the deal as negative as some "will sunset prior to the maturity of the certificates."

Independent third-party review firms performed loan file reviews for 100% of the pool, according to the presale.

 

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