Chase Home Lending mortgage trust 2026-AGY3 receives KBRA ratings on 96 RMBS classes

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Chase Home Lending RMBS ratings

Highlights

KBRA assigned ratings to 96 classes of mortgage pass-through certificates from Chase Home Lending Mortgage Trust 2026-AGY3, comprising 810 Agency Eligible residential mortgages.
Owner-occupied homes make up 98.2% of the collateral pool, with the remaining 1.8% comprising second homes as of the deal's cut-off date.
The deal reinforces U.S. prime RMBS market trends, highlighting agency-rated deals with higher collateral quality and standard structural protections.

Transaction structure and collateral profile

As reported by KBRA, citing Kroll Bond Rating Agency, the ratings cover 96 classes of mortgage pass-through certificates issued by Chase Home Lending Mortgage Trust 2026-AGY3, a prime RMBS transaction composed entirely of Agency Eligible loans.

The underlying collateral pool includes mortgages secured primarily by owner-occupied homes, which account for 98.2% of the pool, with the remaining 1.8% tied to second homes. KBRA says the deal is backed by 810 residential mortgages and reflects the pool balance measured at the cut-off date.

KBRA says its analysis includes loan-level review through its Residential Asset Loss Model, or REALM, alongside cash flow modeling of the transaction's payment structure. The agency also examines third-party loan file due diligence, key transaction parties, and the legal structure and documentation supporting the securitization.

Implications for the U.S. RMBS market

The rating action adds another agency-assessed prime RMBS issuance to the U.S. mortgage securitization pipeline, a market segment closely watched by investors for credit quality, collateral composition, and structural protections.

A pool made up entirely of Agency Eligible loans and concentrated in owner-occupied properties generally signals a higher-quality collateral profile within the residential mortgage market. KBRA says the analytical framework applied to the deal is described in its U.S. RMBS rating methodology, indicating that the certificates are being evaluated under its standard approach for this asset class.

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