PennyMac is set to plot its first prime RMBS issue, the $550.46 million PMT Loan Trust 2013-J1.

The jumbo prime structure has been assigned preliminary ratings by Kroll Bond Ratings Agency. The structure will offer investors $507.8 million of ‘AAA’-rated class A notes; $14.03 million of ‘AA’ rated, class B notes; $9.63 million of ‘A’-rated, class B-2 notes; $5.50 million of ‘BBB’-rated class B-3 notes; and $5,78 million of ‘BB’-rated, class B-4 notes.  KBRA did note rate the $7.70 million class B-5 notes structured in the deal.

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