Western Mortgage Reference Notes News Today

Even among the non-QM loans in the reference pool, pegged to the SOFR, most of their characteristics fall in line with what is considered prime.

Kroll Bond Rating Agency (KBRA) has assigned preliminary ratings to five classes of mortgage reference notes from Western Mortgage Reference Notes, Series 2021-CL2 (WAL 2021-CL2), a credit-linked note transaction issued by Western Alliance Bank (“WAB”).