DBRS Rates Citigroup Mortgage Loan Trust 2009-4

DBRS has today assigned the following ratings to the Re-REMIC Trust Certificates, Series 2009-4 issued by Citigroup Mortgage Loan Trust 2009-4 (the Trust):

– $3.8 million Class 1A2 rated at C
– $6.8 million Class 2A2 rated at B (high)
– $7.7 million Class 3A2 rated at B (high)
– $6.2 million Class 4A3 rated at C
– $10.9 million Class 5A2 rated at B (high)
– $18.7 million Class 6A3 rated at C
– $7.4 million Class 7A5* rated at B
– $2.4 million Class 7A6** rated at B (high)
– $1.3 million Class 7A7** rated at BB
– $1.8 million Class 7A8** rated at BB
– $1.9 million Class 7A9** rated at B
– $4.1 million Class 8A2 rated at B (high)
– $4.4 million Class 9A2 rated at BB (low)
– $10.4 million Class 11A2 rated at C
– $10.7 million Class 12A2 rated at C
– $2.0 million Class 13A3 rated at BB (low)

The ratings on the certificates reflect the credit enhancement provided by subordination on the underlying certificates within their respective groups. The ratings also reflect the quality of the underlying assets, which consist of 19 senior residential mortgage-backed securities (RMBS). The Class 7A5 certificates (Initial Exchangeable Certificate) for the purposes of distribution of interest and principal and allocation of losses consist of the Class 7A1, Class 7A2, Class 7A3 and Class 7A4 components, which are exchangeable for Class 7A6, Class 7A7, Class 7A8 and Class 7A9, respectively (Subsequent Exchangeable Certificates). The Class 13A3 certificates consist of the Class 13A3-1 and Class 13A3-2 components.

The Class 1A1, Class 2A1, Class 3A1, Class 4A1, Class 4A2, Class 5A1, Class 6A1, Class 6A2, Class 7A1, Class 7A2, Class 7A3, Class 7A4, Class 8A1, Class 9A1 Class 10A1, Class 10A2, Class 11A1, Class 12A1, Class 13A1 and Class 13A2 certificates are not rated by DBRS.

Interest and principal payments on the certificates will be made on the 25th day of each month, commencing in May 2009. Interest payments will be distributed on a pro rata basis to the certificates within their respective groups. Principal will be distributed on a sequential basis to the certificates within their respective groups, in numerical order, until the certificate principal balances thereof are reduced to zero.

Any losses realized from the underlying securities will be allocated in a reverse numerical order to the certificates within their respective groups.

The Trust is a resecuritization consisting of 19 senior pass-through certificates represented by 17 real estate mortgage investment conduits (REMICs). The REMICs are backed by pools of mostly prime fixed- and adjustable-rate mortgages secured by first liens on one- to four-family properties.

Notes:

• Denotes Initial Exchangeable Certificates.
  ** Denotes Subsequent Exchangeable Certificates.

All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating U.S. Residential Mortgage-Backed Securities Transactions, which can be found on our website under Methodologies.

This is a Structured Finance rating.