NEW YORK--(BUSINESS WIRE)-- Kroll Bond Rating Agency (KBRA) assigns final ratings to two classes of mortgage pass-through certificates from Sequoia Mortgage Trust 2012-5, a jumbo prime RMBS transaction. Concurrently we have withdrawn our preliminary ratings on the certificates, which were assigned on October 15, 2012.

The mortgage pool backing SEMT 2012-5 is comprised of 390 first-lien mortgage loans with an aggregate principal balance of $320,339,050 as of the cut-off date. The loans in the pool are primarily 30-year fixed-rate first-lien mortgages, with the exception of three 20-year mortgages. The mortgages are of high quality as evidenced by the weighted average, 67.5% first-lien loan-to-value (LTV) ratio, and the weighted average 68.4% combined first and junior lien LTV (CLTV) ratio, which provide a substantial margin of safety against potential home price decline. While 40% of the mortgages have a CLTV of 75% or greater, no loan has a CLTV greater than 80%. Of these 40%, 23% of the mortgage loans have a CLTV of exactly 80%. The weighted average credit score of the mortgage pool is 770 and the average balance is $821,382.