JPMorgan Chase’s next residential mortgage securitization looks a lot like the six deals it completed in 2015: it is backed by jumbo loans to high quality borrowers that the bank acquired from other originators.

J.P. Morgan Mortgage Trust 2016-1 will issue $412 million of notes with preliminary ratings from Fitch Ratings. The senior classes of notes, which benefit from 15% credit enhancement, are rated ‘AAA.’

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