KBRA Assigns Preliminary Ratings to BRAVO Residential Funding Trust 2026-CES1 (BRAVO 2026-CES1)
In New York, KBRA has assigned preliminary ratings to eight classes of mortgage-backed notes from BRAVO Residential Funding Trust 2026-CES1. The transaction, totaling $344.7 million and sponsored by Loan Funding Structure LLC (an affiliate of PIMCO), is comprised entirely of closed-end second lien mortgages (CES) and has a seasoning of approximately three months. The underlying pool consists of 3,577 loans, with the majority (70.3%) originated by loanDepot.com and PennyMac.
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