RMBS

After four years, the senior note classes will either pay a 100 basis-point increase to the fixed coupon or the net weighted average coupon (WAC) rate, whichever is lower.

Property inspection waivers were granted on 40.2% of the underlying mortgages, reflecting an increasing trend of agency mortgages being originated without them.

Although investor properties, which are prone to higher chances of default, account for 58% of the pool, the strong borrower and collateral quality mitigate the credit stress.

In terms of the deal's capital structure, will repay noteholders following a sequential, shifting-interest structure, and six subordinate classes support the senior notes.

DRMT 2026-INV1, is backed by a pool of 1,153 non-prime investment property mortgages, which have a moderate leverage levels of an original, combined loan-to-value (CLTV) ratio of 69.9%.

OBX 2026-J1 will repay noteholders through a senior subordinate, shifting interest structure.

TVC Mortgage's notes, which will be generally interest-only, will repay investors sequentially.

The moderate leverage reflects the quality of RMBS pools from recent issuance years. Borrowers have a non-zero WA annual income of $1 million, with liquid reserves of $594,348.

Despite RCKT Mortgage's second-lien composition, the loans display several positive credit characteristics, including a WA credit score of 745.