KBRA Assigns Preliminary Ratings to PMT Loan Trust 2025-INV12 (PMTLT 2025-INV12)

MorningStar
2025.12.02 22:35
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KBRA has assigned preliminary ratings to 59 classes of mortgage-backed notes from PMT Loan Trust 2025-INV12, sponsored by PennyMac Corp. The transaction includes 1,046 fixed-rate mortgages with a total principal balance of $397.6 million. The loans are primarily for investment properties and second homes, with a weighted average original LTV of 74.4% and a credit score of 776. KBRA's rating approach involved detailed loan-level analysis and cash flow modeling. Further details and methodologies are available in the full rating report.

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