MFA 2020-NQM3 Trust: Rating Report

DBRS, Inc. (DBRS Morningstar) finalized its provisional ratings on MFA 2020-NQM3 Trust (MFA 2020-NQM3 or the Issuer), a securitization of a portfolio of fixed- and adjustable-rate nonprime first-lien residential mortgages funded by the issuance of the Mortgage Pass-Through Certificates, Series 2020-NQM3 (the Certificates). The Certificates are backed by 1,048 mortgage loans with a total principal balance of $381,464,962 as of the Cut-Off Date (October 31, 2020).