KBRA Assigns Preliminary Ratings to GS Mortgage-Backed Securities Trust 2026-DSC2 (GSMBS 2026-DSC2)

About this update from Goldman Sachs Group, Inc. (the)

NEW YORK, June 22, 2026--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 6 classes of mortgage-backed certificates from GS Mortgage-Backed Securities Trust 2026-DSC2 (GSMBS 2026-DSC2), a $304.1 million RMBS transaction sponsored by Goldman Sachs Mortgage Company (Goldman Sachs) solely backed by collateral underwritten to debt-service coverage ratio (DSCR) guidelines. The underlying pool ($304.1 million), comprising 1,373 rental property mortgages as of the June 1, 2026 cut-off date. The mortgage loans are seasoned approximately 4 months with United Wholesale Mortgage, LLC (34.2%) as the largest contributing originator. The collateral is characterized mostly by fully amortizing, fixed-rate mortgages (FRMs) with 30-year (98.3%) terms. All the loans in the pool were categorized as exempt from the ATR/QM rule due to being originated for business purposes. KBRA’s rating approach incorporated loan-level analysis of the mortgage pool through its Residential Asset Loss Model (REALM), an examination of the results from third-party loan file due diligence, cash flow modeling analysis of the transaction’s payment structure, reviews of key transaction parties and an assessment of the transaction’s legal structure and documentation. This analysis is further described in our U.S. RMBS Rating Methodology. To access ratings and relevant documents, click here. Click here to view the report. Related Publications Methodologies Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodolog...

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