Kroll Bonds Rating and Fitch Ratings assigned preliminary ratings to Redwood Trust’s second residential mortgage-backed securitization in 2013 called Sequoia Mortgage Trust 2013-2.
The deal is structured with $619.16 million of ‘AAA’ rated notes. Fitch also assigned ratings to the B-notes issued under the structure; Kroll will not rate these notes. The structure includes $14.6 million class B-1 notes rated 'AA'; $12.6 million of class B-2 notes rated 'A'; $6.6 million of class B-3 notes rated 'BBB'; $5.6 million of class B-4 notes rated 'BB'. An unrated $7.32 million of class B-5 notes is also being marketed.