Morningstar Ratings | Transaction Name: Verus 2018-INV2

Current Ratings Information Table Show Table
Ratings Actions Show History
Date
Ratings Actions Title
Asset Class
01/02/2020 Verus Securitization Trust 2018-INV2 Withdrawn Ratings RMBS
RMBS New Issue Ratings Analysis

Morningstar's Credit Ratings is setting new standards for structured finance ratings. Our organization is committed to investor demand for a more rigorous and transparent ratings methodology and we encourage an active investor dialogue with our analytical team.

Our Final Ratings Confirmation affirms Morningstar’s ratings at the close of the transaction. This confirmation report is issued for all transactions where there are no significant, material, and adverse changes that require a Postsale Report.

Our Presale Report provides investors with a thorough transaction overview and an independent analytical opinion of the credit risk of the transaction. This report addresses features of the transaction at the loan and property level, a structural review of the trust, and a review of the loan portfolio characteristics.

RMBS Surveillance Analysis

Morningstar's Surveillance Analysis provides a comprehensive credit analysis and the most recently available letter ratings for a Morningstar rated transaction. As part of our surveillance process, Morningstar requests issuers to submit periodic property- and/or loan-level performance data. The Surveillance Analysis presents the quantitative and qualitative analysis of the current performance data and the related impact to the ratings on each class of the transaction.

Morningstar's Surveillance Analysis is not yet available for this deal.
Regulatory Disclosures

This report describes the representations, warranties, and enforcement mechanisms available to investors for these securities and set forth in the related mortgage purchase agreement and servicing agreement, and compares them to the representations, warranties and enforcement mechanisms generally anticipated by Morningstar Credit Ratings to be available to investors for similar securities.

Rule 17g-7(a) of the Securities Exchange Act of 1934 requires that certain disclosures be made when a credit rating action is taken. In this context a credit rating action is considered (1) a publication of an expected or preliminary credit rating assigned to an obligor or security before the publication of an initial credit rating; (2) an initial credit rating; (3) an upgrade or downgrade of an existing credit rating; and (4) an affirmation or withdrawal of an existing credit rating if the affirmation or withdrawal is the result of a review of the credit rating assigned to the obligor or security using the firm’s applicable procedures and methodologies for determining credit ratings.

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