Towd Point Mortgage Trust 2020-1: Presale Report

DBRS, Inc. (DBRS Morningstar) assigned provisional ratings to Towd Point Mortgage Trust 2020-1 (TPMT 2020-1 or the Trust), a securitization of a portfolio of seasoned performing and reperforming primarily first-lien mortgages funded by the issuance of asset-backed notes (the Notes). The Notes are backed by 5,078 loans with a total principal balance of $756,264,221 as of the Cut-Off Date (December 31, 2019).