---
title: "KBRA Assigns Preliminary Ratings to BRAVO Residential Funding Trust 2026-CES1 (BRAVO 2026-CES1)"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285433217.md"
description: "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."
datetime: "2026-05-06T20:12:11.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285433217.md)
  - [en](https://longbridge.com/en/news/285433217.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285433217.md)
---

# 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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