Prism Mortgage Trust 2026-HX1's issuance is an RMBS securitization backed by a pool of first-lien, fixed-rate, fully amortizing residential mortgage loans (some with interest-only periods) to both prime and nonprime borrowers. We assigned our preliminary ratings to the class A-1-A, A-1-B, A-1FCF, A-1LCF, A-1, A-2, A-3, M-1, B-1, and B-2 notes. The preliminary ratings reflect our view of the transaction's credit enhancement, associated structural mechanics, representation and warranty framework, and geographic concentration, among other factors. NEW YORK (S&P Global Ratings) Oct. 21, 2026--S&P Global Ratings today assigned its preliminary ratings to Prism Mortgage Trust 2026-HX1 's mortgage-backed notes (see list). The note issuance is an RMBS securitization backed by a pool of first-lien, fixed-rate, fully amortizing residential mortgage loans (some
