SAIF Securitization Trust 2026-CES2's issuance is an RMBS securitization backed by closed-end, second-lien, fixed-rate, fully amortizing residential mortgage loans, to both prime and nonprime borrowers. We assigned our preliminary ratings to the class A-1A, A-1B, 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, and associated structural mechanics, and our economic outlook, among other factors. ENGLEWOOD (S&P Global Ratings) Oct. 27, 2026--S&P Global Ratings today assigned its preliminary ratings to SAIF Securitization Trust 2026-CES2's mortgage-backed notes (see list). The note issuance is an RMBS securitization backed by closed-end, second-lien, fixed-rate, fully amortizing residential mortgage loans, to both prime and nonprime borrowers. The loans are secured by single-family residential properties,
