New York, January 08, 2013 -- Moody's Investors Service has assigned provisional ratings of Aaa (sf) to four classes of residential mortgage-backed securities (RMBS) issued by Sequoia Mortgage Trust (SEMT) 2013-1. The certificates are backed by two pools of prime quality, first-lien mortgage loans. One group consists of hybrid adjustable rate loans with fixed terms of five, seven and ten years, in addition to short term fixed rate loans. The other group is made up of 30-year fixed rate loans. The borrowers in both the pools have high FICO scores, significant liquid cash reserves and equity in their properties.
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