KBRA Assigns Preliminary Ratings to Morgan Stanley Residential Mortgage Loan Trust 2024-NQM2 (MSRM 2024-NQM2)

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns preliminary ratings to 8 classes of mortgage-backed certificates from Morgan Stanley Residential Mortgage Loan Trust 2024-NQM2 (MSRM 2024-NQM2), a $299.5 million non-prime RMBS transaction. The underlying collateral, comprising of 696 residential mortgages, is characterized by a notable concentration of alternative income documentation (91.6%). The majority of the loans are either classified as non-qualified mortgages (Non-QM) (45.9%) or exempt (41.0%) fr