---
title: "KBRA Assigns Preliminary Ratings to OBX 2026-CES1 Trust"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/282733823.md"
description: "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."
datetime: "2026-04-14T18:31:35.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/282733823.md)
  - [en](https://longbridge.com/en/news/282733823.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/282733823.md)
---

# 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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