EFMT 2024-INV1's issuance is an RMBS transaction backed by first-lien, fixed- and adjustable-rate fully amortizing residential mortgage loans (some with an interest-only period), secured primarily by single-family residential properties including townhomes, planned-unit developments, condominiums, two- to four-family units, condotels, and five- to 10-unit multifamily residential properties to both prime and nonprime borrowers. The pool has 1,053 loans, which are ability-to-repay-exempt mortgage loans. We assigned our preliminary ratings to the class A-1A, A-1B, A-2, A-3, M-1, B-1, and B-2 certificates. The preliminary ratings reflect our view of the transaction's credit enhancement, associated structural mechanics, representations and warranties framework, and mortgage operational assessment, among other factors. ENGLEWOOD (S&P Global Ratings) April 19, 2024--S&P Global Ratings today assigned its preliminary ratings to EFMT
