KBRA Assigns Preliminary Ratings to OBX 2026-CES1 Trust
In New York, KBRA has assigned preliminary ratings to nine classes of mortgage-backed notes from OBX 2026-CES1 Trust, the first RMBS transaction by Onslow Bay Financial LLC. The pool includes 1,667 closed-end second lien mortgages with an average seasoning of around ten months. The loans come from sellers like Mission Loans, LLC (26.1%), Better Mortgage Corporation (20.3%), and PennyMac Co. This marks a significant move in the market and reflects the ongoing activity in the mortgage industry.
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