KBRA Issues Preliminary Ratings for $490 Million Non-Prime RMBS Transaction Sponsored by Rithm Capital

Tue, 05 May 2026 10:16:00 +0200

Kroll Bond Rating Agency (KBRA) has assigned preliminary ratings to ten classes of mortgage-backed notes from the New Residential Mortgage Loan Trust 2026-NQM6 (NRMLT 2026-NQM6), a $490.1 million non-prime residential mortgage-backed securities (RMBS) transaction sponsored by Rithm Capital Corp., formerly known as New Residential Investment Corp., a publicly traded REIT. The mortgage pool consists of 930 residential loans, primarily originated and serviced by NewRez LLC, with a weighted average original credit score of 755 and loan-to-value ratios of approximately 71.8%. KBRA’s assessment involved detailed loan-level analysis using its Residential Asset Loss Model (REALM), review of third-party due diligence, cash flow modeling, evaluation of transaction participants, and examination of legal documentation and structure. These analyses adhere to KBRA’s U.S. RMBS Rating Methodology. The agency’s report includes sensitivity analyses, ESG considerations, and factors that could affect the