Credit Ratings

Deal Name Tranche Name Original Rating S&P/Moody’s Current Rating
Pepper Residential Securities Trust No.13  Class A-1 Notes  AAA(sf)/Aaa(sf)  AAA(sf)/Aaa(sf)
Pepper Residential Securities Trust No.13  Class A-2 Notes  AAA(sf)/Aaa(sf)  AAA(sf)/Aaa(sf)
Pepper Residential Securities Trust No.13  Class B Notes  AA(sf)/NR  AAA(sf)/NR
Pepper Residential Securities Trust No.13  Class C Notes  A(sf)/NR  AA(sf)/NR
Pepper Residential Securities Trust No.13  Class D Notes  BBB(sf)/NR  A-(sf)/NR
Pepper Residential Securities Trust No.13  Class E Notes  BB(sf)/NR  BBB(sf)/NR
Pepper Residential Securities Trust No.13  Class F Notes  B(sf)/NR  BB(sf)/NR
Pepper Residential Securities Trust No.13  Class G Notes  NR/NR  NR/NR

 

Deal Name Tranche Name Original Rating Moody’s/S&P Current Rating
Pepper Residential Securities Trust No.14 Class A1-u1 Notes  P-1(sf) /A-1+(sf)  WR
Pepper Residential Securities Trust No.14 Class A1-u2 Notes   WR
Pepper Residential Securities Trust No.14 Class AR-u Notes Aaa(sf) Aaa(sf)
Pepper Residential Securities Trust No.14 Class A1-a Notes Aaa(sf) / AAA(sf) Aaa(sf)/ AAA(sf)
Pepper Residential Securities Trust No.14 Class A2 Notes Aaa(sf) / AAA(sf) Aaa(sf)/ AAA(sf)
Pepper Residential Securities Trust No.14 Class B Notes Aa1(sf) / NR Aaa(sf)/ NR
Pepper Residential Securities Trust No.14 Class C Notes A2(sf) / NR Aaa(sf)/ NR
Pepper Residential Securities Trust No.14 Class D Notes Baa2(sf) / NR Aa3(sf)/ NR
Pepper Residential Securities Trust No.14 Class E Notes Ba2(sf) / NR Baa2(sf)/ NR 
Pepper Residential Securities Trust No.14 Class F Notes B2(sf) / NR  Ba1(sf)/ NR
Pepper Residential Securities Trust No.14 Class G Notes NR / NR NR/NR

 

Deal Name Tranche Name Original Rating Moody’s/S&P  
Pepper Residential Securities Trust No. 15 Class A1-s1 Notes P-1(sf) /A-1+(sf)  WR
Pepper Residential Securities Trust No. 15  Class A1-s2 Notes P-1(sf) /A-1+(sf)  WR
Pepper Residential Securities Trust No. 15  Class A1-a Notes Aaa(sf) / AAA(sf) Aaa
Pepper Residential Securities Trust No. 15  Class A1-R Notes Aaa Aaa
Pepper Residential Securities Trust No. 15 Class A2 Notes Aaa(sf) / AAA(sf) Aaa
Pepper Residential Securities Trust No. 15 Class B Notes Aa2(sf) / NR Aaa/ NR
Pepper Residential Securities Trust No. 15 Class C Notes A2(sf) / NR Aa1/ NR
Pepper Residential Securities Trust No. 15 Class D Notes Baa2(sf) / NR Aa3/ NR
Pepper Residential Securities Trust No. 15 Class E Notes Ba2(sf) / NR Baa1/ NR
Pepper Residential Securities Trust No. 15 Class F Notes B2(sf) / NR Ba1/ NR
Pepper Residential Securities Trust No. 15 Class G Notes NR / NR NR/NR

 

Deal Name Tranche Name Original Rating Moody’s/S&P Current Rating
Pepper Residential Securities Trust No. 16  Class A1-u1 Notes P-1(sf)/A-1+(sf) WR
Pepper Residential Securities Trust No. 16  Class A1-u2 Notes Aaa(sf)/AAA(sf) WR
Pepper Residential Securities Trust No. 16  Class AR-u Notes Aaa(sf) Aaa(sf)
Pepper Residential Securities Trust No. 16   Class A1-a Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 16  Class A2 Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 16  Class B Notes Aa2(sf)/NR Aaa/NR
Pepper Residential Securities Trust No. 16  Class C Notes A2(sf)/NR Aa1/NR
Pepper Residential Securities Trust No. 16  Class D Notes Baa2(sf)/NR Aa3/NR
Pepper Residential Securities Trust No. 16  Class E Notes Ba1(sf)/NR Baa1/NR
Pepper Residential Securities Trust No. 16  Class F Notes B2(sf)/NR Ba2/NR
Pepper Residential Securities Trust No. 16  Class G Notes NR/NR NR/NR

 

Deal Name Tranche Name Original Rating Moody’s/S&P Current Rating
Pepper Residential Securities Trust No. 17 Class A1-ua Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 17 Class A1-ub Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 17 Class A1-af Notes Aaa(sf) Aaa(sf)
Pepper Residential Securities Trust No. 17 Class A1-a Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 17 Class A2 Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 17 Class B Notes Aa2(sf)/NR Aaa/NR
Pepper Residential Securities Trust No. 17 Class C Notes A2(sf)/NR Aa1/NR
Pepper Residential Securities Trust No. 17 Class D Notes Baa2(sf)/NR Aa3/NR
Pepper Residential Securities Trust No. 17 Class E Notes Ba1(sf)/NR Baa1/NR
Pepper Residential Securities Trust No. 17 Class F Notes B1(sf)/NR Ba2/NR
Pepper Residential Securities Trust No. 17 Class G Notes NR/NR NR/NR

 

Deal Name Tranche Name Original Rating Moody’s/S&P Current Rating
Pepper Residential Securities Trust No. 18 Class A1-ua Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 18 Class A1-ub Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 18 Class A1-af Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 18 Class A1-a Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 18  Class A2 Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 18 Class B Notes Aa1(sf)/NR Aaa/NR
Pepper Residential Securities Trust No. 18  Class C Notes A2(sf)/NR Aa1/NR
Pepper Residential Securities Trust No. 18 Class D Notes Baa2(sf)/NR A2/NR
Pepper Residential Securities Trust No. 18 Class E Notes Ba1(sf)/NR Baa3/NR
Pepper Residential Securities Trust No. 18 Class F Notes B1(sf)/NR Ba3/NR
Pepper Residential Securities Trust No. 18 Class G Notes NR/NR NR/NR

 

Deal Name Tranche Name Original Rating Moody’s/S&P Current Rating
Pepper Residential Securities Trust No. 19 Class A1-S Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 19 Class A1-u1 Notes P-1(sf)/A-1+(sf) P-1(sf)/A-1+(sf)
Pepper Residential Securities Trust No. 19  Class A2 Notes Aaa(sf)/AAA(sf) Aaa(sf)/AAA(sf)
Pepper Residential Securities Trust No. 19 Class B Notes   Aa1 (sf)/NR
Pepper Residential Securities Trust No. 19  Class C Notes A1(sf)/NR Aa3(sf)/NR
Pepper Residential Securities Trust No. 19 Class D Notes Baa1(sf)/NR A3/NR
Pepper Residential Securities Trust No. 19 Class E Notes Ba1(sf)/NR Baa3/NR
Pepper Residential Securities Trust No. 19 Class F Notes B1(sf)/NR B1(sf)/NR
Pepper Residential Securities Trust No. 19 Class G Notes NR/NR NR/NR

 

Deal Name Tranche Name Original Rating S&P/Moody’s Current Rating
Pepper Residential Securities Trust No. 20 Class A1-S Notes AAA(sf)/Aaa(sf) AAA(sf)/Aaa(sf)
Pepper Residential Securities Trust No. 20 Class A1-u1 Notes P-1/P-a(sf) P-1/P-a(sf)
Pepper Residential Securities Trust No. 20 Class A1-a Notes AAA(sf)/Aaa(sf) AAA(sf)/Aaa(sf)
Pepper Residential Securities Trust No. 20 Class A2 Notes AAA(sf)/Aaa(sf) AAA(sf)/Aaa(sf)
Pepper Residential Securities Trust No. 20 Class B Notes A(sf)/NR AA(sf)/NR
Pepper Residential Securities Trust No. 20  Class C Notes A1(sf)/NR A(sf)/NR
Pepper Residential Securities Trust No. 20 Class D Notes BBB(sf)/NR BBB(sf)/NR
Pepper Residential Securities Trust No. 20 Class E Notes BB(sf)/NR BB(sf)/NR
Pepper Residential Securities Trust No. 20 Class F Notes B(sf)/NR B(sf)/NR
Pepper Residential Securities Trust No. 20 Class G Notes NR/NR NR/NR

 

Deal Name Tranche Name Original Rating S&P/Moody’s Current Rating
Pepper Residential Securities Trust No. 21 Class A1-S Notes AAA(sf)/Aaa(sf) AAA(sf)/Aaa(sf)
Pepper Residential Securities Trust No. 21 Class A1-u Notes AAA(sf)/Aaa(sf) AAA(sf)/Aaa(sf)
Pepper Residential Securities Trust No. 21 Class A1-a Notes AAA(sf)/Aaa(sf) AAA(sf)/Aaa(sf)
Pepper Residential Securities Trust No. 21 Class A2 Notes AAA(sf)/Aaa(sf) AAA(sf)/Aaa(sf)
Pepper Residential Securities Trust No. 21 Class B Notes AA(sf)/NR AA(sf)/NR
Pepper Residential Securities Trust No. 21  Class C Notes

A(sf)/NR

A(sf)/NR
Pepper Residential Securities Trust No. 21 Class D Notes BBB(sf)/NR BBB(sf)/NR
Pepper Residential Securities Trust No. 21 Class E Notes BB(sf)/NR BB(sf)/NR
Pepper Residential Securities Trust No. 21 Class F Notes B(sf)/NR B(sf)/NR
Pepper Residential Securities Trust No. 21 Class G Notes NR/NR NR/NR

 

Deal Name Tranche Name Original Rating S&P Current Rating
Pepper I-Prime 2017-2 Trust Class A1-S Notes AAA(sf) AAA(sf)
Pepper I-Prime 2017-2 Trust Class A1-L Notes AAA(sf) AAA(sf)
Pepper I-Prime 2017-2 Trust Class A2 Notes AAA(sf) AAA(sf)
Pepper I-Prime 2017-2 Trust Class B Notes AA(sf) AA(sf)
Pepper I-Prime 2017-2 Trust Class C Notes A(sf) A(sf)
Pepper I-Prime 2017-2 Trust Class D Notes BBB(sf) BBB(sf)
Pepper I-Prime 2017-2 Trust Class E Notes BB(sf) BB(sf)
Pepper I-Prime 2017-2 Trust Class F Notes B(sf) B(sf)
Pepper I-Prime 2017-2 Trust Class G Notes NR NR

 

Deal Name Tranche Name Original Rating S&P Current Rating
Pepper I-Prime 2017-3 Trust Class A1-S Notes AAA(sf) AAA(sf)
Pepper I-Prime 2017-3 Trust Class A1-L Notes AAA(sf) AAA(sf)
Pepper I-Prime 2017-3 Trust Class A2 Notes AAA(sf) AAA(sf)
Pepper I-Prime 2017-3 Trust Class B Notes AA(sf) AA(sf)
Pepper I-Prime 2017-3 Trust  Class C Notes A(sf) A(sf)
Pepper I-Prime 2017-3 Trust Class D Notes BBB(sf) BBB(sf)
Pepper I-Prime 2017-3 Trust Class E Notes BB(sf) BB(sf)
Pepper I-Prime 2017-3 Trust Class F Notes B(sf) B(sf)
Pepper I-Prime 2017-3 Trust Class G Notes NR NR

 

Deal Name Tranche Name Original Rating S&P Current Rating
Pepper I-Prime 2018-1 Trust Class A1-S Notes AAA(sf) AAA(sf)
Pepper I-Prime 2018-1 Trust Class A1-L Notes AAA(sf) AAA(sf)
Pepper I-Prime 2018-1 Trust Class A2 Notes AAA(sf) AAA(sf)
Pepper I-Prime 2018-1 Trust Class B Notes AA(sf) AA(sf)
Pepper I-Prime 2018-1 Trust  Class C Notes A(sf) A(sf)
Pepper I-Prime 2018-1 Trust Class D Notes BBB(sf) BBB(sf)
Pepper I-Prime 2018-1 Trust Class E Notes BB(sf) BB(sf)
Pepper I-Prime 2018-1 Trust Class F Notes B(sf) B(sf)
Pepper I-Prime 2018-1 Trust Class G Notes NR NR