Moody's Investors Service Affirms Ratings on 10 US RMBS Transactions Amid Servicing Transfer

Moody's Investors Service has announced that the transfer of servicing for approximately 1,890 residential mortgage loans backing 10 US RMBS transactions from JPMorgan Chase Bank, N.A. to Select Portfolio Servicing, Inc. will not result in a reduction or withdrawal of the current ratings on the securities issued by these transactions. This decision is based on Moody's opinion that the ratings of each security will not have material negative implications following changes in servicing strategy that can occur after a transfer of servicing.

Key Takeaways:

• Moody's Investors Service has affirmed the ratings on 10 US RMBS transactions despite the transfer of servicing from JPMorgan Chase Bank, N.A. to Select Portfolio Servicing, Inc.
• The transfer of servicing for approximately 1,890 residential mortgage loans affects 10 transactions, including EMC Mortgage Loan Trust Pass-Through Certificates, Series 2001-A and HomeBanc Mortgage Trust 2005-3.
• Moody's opinion addresses only the current impact on ratings and does not express an opinion on any potential positive effects of the transfer.
• The servicing transfer is scheduled to take place in April 2022.
• JPMorgan Chase had requested Moody's opinion on the potential impact of the transfer on ratings.
• Moody's view is that the ratings of each security will not have material negative implications following changes in servicing strategy.

Statistics:

• 1,890 residential mortgage loans will be transferred from JPMorgan Chase to Select Portfolio Servicing, Inc.
• 10 US RMBS transactions are affected by the servicing transfer, including EMC Mortgage Loan Trust Pass-Through Certificates, Series 2001-A.
• The servicing transfer is scheduled to take place in April 2022.
• Moody's opinion addresses only the current impact on ratings and does not provide a timeline for future reviews.