KBRA Assigns Preliminary Ratings to Towd Point Mortgage Trust 2024-CES2 (TPMT 2024-CES2)

NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns preliminary ratings to 31 classes of asset-backed securities from Towd Point Mortgage Trust 2024-CES2 (TPMT 2024-CES2), a $391.0 million RMBS transaction, as of December 31, 2023 (the Statistical Calculation Date). The underlying pool consisted of 5,311 closed-end second lien mortgages (CES; 100%) originated by Spring EQ, LLC (43.8%), Rocket Mortgage, LLC (38.7%), Lakeview Community Capital, LLC (10.7%), and Mr. Cooper (6.8%). The CES collateral is charac