KBRA Assigns Ratings to $548.3 Million RCKT Mortgage Trust 2026-CES1
- Transaction Size: The RCKT 2026-CES1 mortgage trust has a transaction size of $548.3 million, consisting entirely of newly originated closed-end second lien mortgages issued by Rocket Mortgage, indicating sustained market demand for new loan products.
- Loan Characteristics: The trust's loan pool comprises 5,839 fully amortizing, fixed-rate mortgages with average terms of 10 years (4.1%), 15 years (7.8%), 20 years (62.7%), and 30 years (25.5%), reflecting a diverse range of loan term options.
- Rating Methodology: KBRA employs its Residential Asset Loss Model (REALM) for loan-level analysis of the mortgage pool, supplemented by third-party due diligence results and cash flow modeling analysis, ensuring the accuracy and reliability of the ratings, thereby enhancing market confidence.
- Legal Structure Review: During the rating process, KBRA also assessed the legal structure and documentation of the transaction, ensuring compliance of all key transaction parties, which reduces investment risk and increases investor trust.
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- Transaction Size: The RCKT 2026-CES1 mortgage trust has a transaction size of $548.3 million, consisting entirely of newly originated closed-end second lien mortgages issued by Rocket Mortgage, indicating sustained market demand for new loan products.
- Loan Characteristics: The trust's loan pool comprises 5,839 fully amortizing, fixed-rate mortgages with average terms of 10 years (4.1%), 15 years (7.8%), 20 years (62.7%), and 30 years (25.5%), reflecting a diverse range of loan term options.
- Rating Methodology: KBRA employs its Residential Asset Loss Model (REALM) for loan-level analysis of the mortgage pool, supplemented by third-party due diligence results and cash flow modeling analysis, ensuring the accuracy and reliability of the ratings, thereby enhancing market confidence.
- Legal Structure Review: During the rating process, KBRA also assessed the legal structure and documentation of the transaction, ensuring compliance of all key transaction parties, which reduces investment risk and increases investor trust.
- Strengthened Clinical Validation: Avant Technologies announced that a new study from the Mayo Clinic reinforces the critical role of α-Klotho in vascular health, providing scientific backing for its Klothonova therapy developed in partnership with Singapore's Austrianova, which is expected to enhance market acceptance of the therapy.
- Significant Market Potential: The precision medicine market is projected to grow from $119 billion in 2025 to $471 billion by 2034, and Avant's technological innovations align perfectly with this trend, positioning the company to capture a significant share of the future market.
- Deepened Strategic Collaboration: The exclusive global licensing agreement with Klothea Bio grants Klothonova rights to develop and commercialize Klotho-producing cells, leveraging Austrianova's technology, which is anticipated to accelerate the product's market entry.
- Diversified Investment Strategy: Avant is also collaborating with SGAustria to provide funding over the next eight months for diabetes treatment, demonstrating its strategic intent to expand across multiple therapeutic areas.

- Strengthened Clinical Validation: Avant Technologies announced that a new study from the Mayo Clinic reinforces the critical role of the 'longevity protein' α-Klotho in vascular health, bolstering the scientific foundation for its joint venture Klothonova with Singapore's Austrianova, advancing cell therapy development.
- Significant Market Potential: As precision medicine expands, the sector is projected to grow from $119 billion in 2025 to $471 billion by 2034, positioning Avant Technologies at the forefront of this transformation, particularly in rare disease treatments.
- Innovative Technology: Klothonova's cell therapy aims to sustainably restore α-Klotho levels using genetically modified human cells, which is expected to revolutionize cardiovascular health and overall longevity, addressing the increasing market demand.
- Strategic Investment: Avant Technologies' joint venture Insulinova with SGAustria aims to develop an efficient diabetes treatment, with initial funding expected in the next eight months to drive innovative solutions for global diabetes patients.
- Transaction Size: RCKT Mortgage Trust 2025-CES12 is a $499.3 million RMBS transaction fully sponsored by Rocket Mortgage, LLC and its affiliate Woodward Capital Management LLC, indicating strong market demand for newly originated second lien mortgages.
- Loan Characteristics: The transaction consists of 5,485 newly originated closed-end second lien mortgages, with an average seasoning of less than one month, reflecting confidence and liquidity in the market for new loans.
- Interest Rate Structure: The mortgage pool features a diverse interest rate structure with fixed-rate loans of 4.0% for 10-year, 8.3% for 15-year, 65.0% for 20-year, and 22.6% for 30-year terms, catering to various borrower needs and enhancing market appeal.
- Rating Methodology: KBRA's rating approach involved loan-level analysis through its Residential Asset Loss Model (REALM), incorporating third-party due diligence results and cash flow modeling, ensuring the accuracy and reliability of the ratings, which bolsters market confidence in the transaction.

U.S. Stock Futures: U.S. stock futures are down, with Dow futures dropping approximately 200 points on Tuesday morning.
Helmerich and Payne Inc: The company reported a fourth-quarter loss of 1 cent per share despite quarterly sales of $1.012 billion, leading to a 7% drop in its shares during pre-market trading.
Other Stocks Declining: Several other stocks, including Alpha Technology Group Ltd and Invivyd Inc, experienced significant declines in pre-market trading, with drops of 19% and 13.4%, respectively.
Home Depot's Performance: Home Depot's shares fell 2% after reporting worse-than-expected third-quarter adjusted EPS and lowering its FY25 adjusted EPS outlook.
Quarterly Loss: Rocket Pharmaceuticals reported a third-quarter loss of $50.33 million, or $0.45 per share, an improvement from a loss of $66.72 million, or $0.71 per share, in the same quarter last year.
Analyst Expectations: The company's loss per share beat analysts' expectations, which had forecasted a loss of $0.52 per share, excluding special items.









