KBRA Assigns Preliminary Ratings to OBX 2024-NQM7 Trust

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns ratings preliminary to seven classes of mortgage-backed notes from OBX 2024-NQM7 Trust, a $551.8 million non-prime RMBS transaction. The underlying collateral, comprising 1,116 residential mortgages, is characterized by a notable concentration of alternative income documentation (92.7%) loans. Most of the loans are classified as non-qualified mortgages (Non-QM) (51.4%) or exempt (47.7%) from the Ability-to-Repay/Qualified Mortgage (ATR/QM) rule due to bei