KBRA Assigns Preliminary Ratings to CROSS 2024-H3 Mortgage Trust
30 Apr 2024 | New York
KBRA assigns preliminary ratings to eight classes of mortgage pass-through certificates from CROSS 2024-H3 Mortgage Trust, an RMBS transaction issued under the Hildene-CCC Loan Acquisition, LLC (CROSS) shelf, where Hildene Capital Management (Hildene) in affiliation with CrossCountry Mortgage (CrossCountry or CCM) and CrossCountry Capital (CCC) sponsored the transaction. The $336.5 million transaction is collateralized by a pool of 629 residential mortgages originated by CCM, including a meaningful concentration of collateral that KBRA considers to be “non-prime”, with fixed-rate mortgages (FRMs) and hybrid adjustable-rate mortgages (ARMs) making up 81.4% and 18.6% of the pool, respectively.
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