RMBS

According to the latest available database details, yields range from 6% on the class A4, AAA certificates to 5.9% on the class A8 certificates, also AAA.

No single company contributes more than 15% to the pool, while SN Servicing will service 84.3% of the loans in the pool.

The trust's sixth issue of the year is backed by higher-income borrowers.

KBRA says there is notable borrower equity in the properties collateralizing the mortgages, which is reflected in the weighted average original loan-to-value ratio of 71.7%.

Also, 3.3% of the pool are closed-end loans with second lien priority underwritten with various documentation methods.

None of the loans registered a delinquency in the past 24 months, and none had received a modification prior to the May 31 cutoff date.

One of the subordinate tranches, the BX is exchangeable, while credit enhancement levels on the notes range from 35.70% on the A1 notes to 3.5% on the B3 tranche.

The A5 through A21 notes have credit enhancement levels amounting to 15.00%, while the rest of the notes are covered by levels ranging from 8.65% to 0.55%.

The 2024-5 series are secured by a pool of loans purchasing primary residences, with an original, cumulative LTV of 73.9%, and a debt-to-income ratio of 35.5%.

Rocket is contributing all 5,455 closed-end loans in the collateral pool, and it is an 'above average' originator. One of the deal's positive highlights is that 27.0% of the assets by unpaid principal balance, were subject to third-party due diligence review.