ABS-15G

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM ABS-15G

ASSET-BACKED SECURITIZER
Report Pursuant to Section 15G of

the Securities Exchange Act of 1934

Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:

¨ Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period _________________ to _________________

Date of Report (Date of earliest event reported)______________________

Commission File Number of securitizer: ____________________

Central Index Key Number of securitizer: ___________________

Name and telephone number, including area code, of the person to

contact in connection with this filing

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1)  ¨

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i)   ¨

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii)   ¨

x Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

Central Index Key Number of depositor: 0001787426

(Exact name of issuing entity as specified in its charter): RCKT Mortgage Trust 2024-CES4

Central Index Key Number of issuing entity (if applicable): Not applicable

John Essad (313) 545-5133

Name and telephone number, including area code, of the person to

contact in connection with this filing

INFORMATION TO BE INCLUDED IN THE REPORT

PART II: FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS

Item 2.01 Findings and Conclusions of Third-Party Due Diligence Report Obtained by the Issuer

Attached as Exhibit 1 hereto is an agreed-upon procedures report, dated May 9, 2024, obtained by the securitizer with respect to certain agreed-upon procedures performed by Ernst & Young LLP.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: May 9, 2024	WCM1 LLC (Depositor)
	By: Woodward Capital Management LLC, its sole member
	By:		/s/ John Essad
		Name:	John Essad
		Title:	Director of Securitization

EXHIBIT INDEX

Exhibit number Description

Exhibit 1 Agreed-upon procedures report, dated May 9, 2024, of Ernst & Young LLP.

EX-99.1

Exhibit 99.1

      Ernst & Young LLP One Manhattan West New York, NY 10001     Tel: +1 212 773 3000 Fax: +1 212 773 6350 ey.com

Report of Independent Accountants on Applying Agreed-Upon Procedures

Blue River Mortgage II LLC (the “Retaining Sponsor”) GCAT Depositor II LLC (the “GCAT Depositor”) 245 Park Avenue New York, New York 10167 9 May 2024

Re:	RCKT Mortgage Trust 2024-CES4 (the “Issuer”)
	Mortgage-Backed Notes, Series 2024-CES4 (the “Notes”)
	Sample Mortgage Loan Agreed-Upon Procedures

We have performed the procedures enumerated in Attachment A, which were agreed to and acknowledged as appropriate by the Retaining Sponsor, GCAT Depositor, Woodward Capital Management LLC (the “Woodward Sponsor”), WCM1 LLC (the “Woodward Depositor”), BofA Securities, Inc. and Citigroup Global Markets Inc. (collectively, the “Specified Parties”) for the intended purpose of assisting the Specified Parties in evaluating the accuracy of certain information with respect to a pool of mortgage loans (the “Mortgage Loans”) relating to the Issuer’s securitization transaction. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The appropriateness of these procedures is solely the responsibility of the Specified Parties identified in this report. No other party acknowledged the appropriateness of the procedures. Consequently, we make no representation regarding the appropriateness of the procedures described in Attachment A, either for the purpose for which this report has been requested or for any other purpose.

The procedures performed and our associated findings are included in Attachment A.

For the purpose of the procedures described in this report, the Woodward Sponsor, on behalf of the Woodward Depositor, provided us with:

a. An electronic data file labeled “RM ASF - 5.1.24.xlsx” and the corresponding record layout and decode information, as applicable (the “Preliminary Data File”), that the Woodward Sponsor, on behalf of the Woodward Depositor, indicated contains information as of the close of business on 30 April 2024 (the “Cut-off Date”) relating to certain mortgage loans (the “Preliminary Mortgage Loans”) that are expected to be representative of the Mortgage Loans,

Page 2 of 3

b. Imaged copies of the following items (collectively, the “Source Documents”):

i.	Promissory note (the “Note”),
ii.	Loan application (the “Application”),
iii.	Appraisal report (the “Appraisal”),
iv.	Credit report, mortgage payoff notice, mortgage billing statement, owner’s lien affidavit, transaction history document, dataverify report, mortgage loan statement, mortgage activity statement, miscellaneous documents and/or mortgage coupon statement (collectively and as applicable, the “Senior Lien Documents”) and
v.	Settlement statement or closing disclosure (collectively and as applicable, the “Settlement Statement”)

that the Woodward Sponsor, on behalf of the Woodward Depositor, indicated relate to the Sample Mortgage Loans (as defined in Attachment A),

c. The list of relevant characteristics (the “Sample Characteristics”) on the Preliminary Data File, which is shown on Exhibit 1 to Attachment A, and

d. Instructions, assumptions and methodologies, which are described in Attachment A.

For the purpose of the procedures described in this report, certain information contained on the Preliminary Data File is the “Subject Matter” as of the date of this report.

The procedures included in Attachment A were limited to comparing or recalculating certain information that is further described in Attachment A. The Woodward Depositor is responsible for the Subject Matter, Preliminary Data File, Source Documents, Sample Characteristics and the determination of the instructions, assumptions and methodologies that are described herein. We were not requested to perform, and we have not performed, any procedures other than those listed in Attachment A. We have not verified, and we make no representation as to, the accuracy, completeness or reasonableness of the Source Documents or any other information provided to us, or that we were instructed to obtain, as applicable, by the Woodward Sponsor, on behalf of the Woodward Depositor, upon which we relied in forming our findings. Accordingly, we make no representation and express no opinion or conclusion as to (a) the existence of the Preliminary Mortgage Loans or Mortgage Loans, (b) questions of legal or tax interpretation or (c) the appropriateness, accuracy, completeness or reasonableness of any instructions, assumptions and methodologies provided to us by the Woodward Sponsor, on behalf of the Woodward Depositor, that are described in this report. We undertake no responsibility to update this report for events and circumstances occurring after the date hereof.

Page 3 of 3

This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (the “AICPA”). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to, and did not, conduct an examination to express an opinion or a review to express a conclusion in accordance with attestation standards established by the AICPA on any of the items referred to herein. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

The agreed-upon procedures described in this report were not performed for the purpose of:

a.	Satisfying any criteria for due diligence published by a nationally recognized statistical rating organization (a “rating agency”) or
b.	Making any findings with respect to:

i.	Whether the origination of the Mortgage Loans conformed to, or deviated from, stated underwriting or credit extension guidelines, standards, criteria, or other requirements,
ii.	The value of the collateral securing the Mortgage Loans,
iii.	Whether the originator(s) of the Mortgage Loans complied with federal, state or local laws or regulations or
iv.	Any other factor or characteristic of the Mortgage Loans that would be material to the likelihood that the issuer of the Notes will pay interest and principal in accordance with applicable terms and conditions.

We are required to be independent of the Woodward Depositor and to meet our other ethical responsibilities, as applicable, for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedures engagements are less restrictive than independence requirements for audit and other attestation services.

This report is intended solely for the information and use of the Specified Parties and is not intended to be, and should not be, used by anyone other than the Specified Parties. It is not intended to be, and should not be, used by any other person or entity, including investors and rating agencies, who are not identified in the report as Specified Parties but who may have access to this report as required by law or regulation.

/s/ Ernst & Young LLP

9 May 2024

Attachment A

Procedures performed and our associated findings

1. As instructed by the Woodward Sponsor, on behalf of the Woodward Depositor, we randomly selected a sample of 100 Preliminary Mortgage Loans from the Preliminary Data File (the “Sample Mortgage Loans”). For the purpose of this procedure, the Woodward Sponsor, on behalf of the Woodward Depositor, did not inform us as to the basis for how they determined the number of Sample Mortgage Loans or the methodology they instructed us to use to select the Sample Mortgage Loans from the Preliminary Data File.

For the purpose of the procedures described in this report, the 100 Sample Mortgage Loans are referred to as Sample Mortgage Loan Numbers 1 through 100.

2. For each Sample Mortgage Loan, we compared the Sample Characteristics listed on Exhibit 1 to Attachment A, as shown on the Preliminary Data File, to the corresponding information located in, or to the corresponding information we recalculated using information located in, the Source Documents, subject to the instructions, assumptions and methodologies provided by the Woodward Sponsor, on behalf of the Woodward Depositor, described in the notes to Exhibit 1 to Attachment A. The Source Document(s) that we were instructed by the Woodward Sponsor, on behalf of the Woodward Depositor, to use for each Sample Characteristic are shown on Exhibit 1 to Attachment A. Except for the information shown on Exhibit 2 to Attachment A, all such compared information was found to be in agreement.

Exhibit 1 to Attachment A

Page 1 of 3

Sample Characteristics and Source Documents

Sample Characteristic	Preliminary Data File Field Name	Source Document(s)	Note(s)
Loan number	Loan Number	Note	i.
Original principal balance	Original Loan Amount	Note
Original interest rate	Original Interest Rate	Note
First payment date	First Payment Date of Loan	Note
Property state	Property State	Note
Property zip code	Property Zip Code	Note
Original term	Original Term to Maturity	(a)    Note or (b)    Note and recalculation	ii.
Prepayment charge term	Prepayment Penalty Total Term	Note
Occupancy status	Occupancy	Application
Appraisal value	Original Appraised Property Value	Appraisal	iii.
Property type	Property Type	Appraisal	iii.
Sale price (if applicable)	Sales Price	Settlement Statement
Loan purpose	Loan Purpose	Note and Settlement Statement	iv.
Senior lien balance	Senior Loan Amount(s)	(a)    Senior Lien Documents or (b)    Senior Lien Documents,	v.
		Settlement Statement and  recalculation
Original loan-to-value ratio	Original LTV	Recalculation	vi.
Combined loan-to-value ratio	Original CLTV	Recalculation	vii.

Exhibit 1 to Attachment A

Page 2 of 3

Notes:

i. For identification purposes only.

ii. For the purpose of comparing the original term Sample Characteristic for each Sample Mortgage Loan that does not have the original term specifically stated in the Note, the Woodward Sponsor, on behalf of the Woodward Depositor, instructed us to recalculate the original term as the sum of:

(a)	The difference in months between the maturity date and first payment date, both as shown in the Note, and
(b)	One.

iii. For the purpose of comparing the indicated Sample Characteristics for each Sample Mortgage Loan, the Woodward Sponsor, on behalf of the Woodward Depositor, provided one or more Appraisals.

For the purpose of comparing the indicated Sample Characteristics for each Sample Mortgage Loan for which we were provided more than one Appraisal, the Woodward Sponsor, on behalf of the Woodward Depositor, instructed us to use the Appraisal with the lowest appraisal value as the Source Document (and in accordance with any other applicable note(s)).

iv. For the purpose of comparing the loan purpose Sample Characteristic for each Sample Mortgage Loan, the Woodward Sponsor, on behalf of the Woodward Depositor, instructed us to note agreement with a loan purpose of “Cash-Out Refinance” if the amount to borrower, as shown in the Settlement Statement, is greater than the lesser of (i) $2,000 and (ii) 2% of the original principal balance, as shown in the Note.

v. For the purpose of comparing the senior lien balance Sample Characteristic for each Sample Mortgage Loan (except for Sample Mortgage Loan Numbers 29 and 54), the Woodward Sponsor, on behalf of the Woodward Depositor, instructed us to note agreement if the value on the Preliminary Data File agreed with the corresponding information in at least one of the Senior Lien Documents. We performed no procedures to reconcile any differences that may exist relating to the information in various Senior Lien Documents relating to the senior lien balance Sample Characteristic.

For the purpose of comparing the senior lien balance Sample Characteristic for Sample Mortgage Loan Numbers 29 and 54, the Woodward Sponsor, on behalf of the Woodward Depositor, instructed us to recalculate senior lien balance as the difference between the:

(a)	Outstanding principal balance, as shown in the Senior Lien Documents, and
(b)	Senior lien payoff amount, as shown in the Settlement Statement.

For the purpose of comparing the senior lien balance Sample Characteristic for each Sample Mortgage Loan, the Woodward Sponsor, on behalf of the Woodward Depositor, instructed us to ignore differences of +/- $1 or less.

Exhibit 1 to Attachment A

Page 3 of 3

Notes: (continued)

vi. For the purpose of comparing the original loan-to-value ratio Sample Characteristic for each Sample Mortgage Loan, the Woodward Sponsor, on behalf of the Woodward Depositor, instructed us to recalculate the original loan-to-value ratio by:

(a)	Dividing the original principal balance, as shown in the Note, by the appraisal value, as shown in the Appraisal (and in accordance with any other applicable note(s)),
(b)	Truncating the value calculated in (a) to the fourth decimal place (X.XXXX) and
(c)	Rounding the value calculated in (b) up to the second decimal place (X.XX).

vii. For the purpose of comparing the combined loan-to-value ratio Sample Characteristic for each Sample Mortgage Loan, the Woodward Sponsor, on behalf of the Woodward Depositor, instructed us to recalculate the combined loan-to-value ratio by:

(a)	Summing the original principal balance, as shown in the Note, and senior lien balance, as shown in the indicated Source Documents (and in accordance with any other applicable note(s)),
(b)	Dividing the value calculated in (a) by the appraisal value, as shown in the Appraisal (and in accordance with any other applicable note(s)),
(c)	Truncating the value calculated in (b) to the fourth decimal place (X.XXXX) and
(d)	Rounding the value calculated in (c) up to the second decimal place (X.XX).

We performed no procedures to determine the accuracy, completeness or reasonableness of the instructions, assumptions and methodologies provided by the Woodward Sponsor, on behalf of the Woodward Depositor, that are described in the notes above.

Exhibit 2 to Attachment A

Sample Characteristic Differences

Sample Mortgage Loan Number	Sample Characteristic	Preliminary Data File Value		Source Document Value
29	Senior lien balance	$	143,700.00	$	143,518.28
54	Senior lien balance	$	215,000.00	$	214,462.38