DBRS Rates J.P. Morgan Resecuritization Trust Series 2009-5 Trust Certificates

DBRS has today assigned the following ratings to the Trust Certificates issued by J.P. Morgan Resecuritization Trust, Series 2009-5 (the Trust).

-- $42.6 million Class 2-A-1* rated at AAA
-- $40.8 million Class 2-A-3** rated at AAA
-- $1.8 million Class 2-A-4** rated at AAA
-- $39.0 million Class 2-A-5** rated at AAA
-- $3.5 million Class 2-A-6** rated at AAA
-- $37.2 million Class 2-A-7** rated at AAA
-- $5.3 million Class 2-A-8** rated at AAA
-- $35.5 million Class 2-A-9** rated at AAA
-- $7.1 million Class 2-A-10** rated at AAA

-- $59.1 million Class 3-A-1* rated at AAA
-- $56.7 million Class 3-A-3** rated at AAA
-- $2.5 million Class 3-A-4** rated at AAA
-- $54.2 million Class 3-A-5** rated at AAA
-- $4.9 million Class 3-A-6** rated at AAA
-- $51.7 million Class 3-A-7** rated at AAA
-- $7.4 million Class 3-A-8** rated at AAA
-- $49.3 million Class 3-A-9** rated at AAA
-- $9.9 million Class 3-A-10** rated at AAA

DBRS rates Group 2 and 3 in this resecuritization trust. Group 2 is backed by a percentage interest of WaMu 2006-AR18 Class 1-A1 certificates and Group 3 is backed by a percentage interest of WaMu 2007-HY5 Class 2-A4 certificates. Within each DBRS-rated group, the AAA ratings on the certificates reflect the 40% of credit enhancement provided by subordination. The ratings also reflect the quality of the underlying securities. Within each group, the Base Certificates are exchangeable for the related combination of Exchangeable Certificates as described in the private placement memorandum.

DBRS does not rate the Class 2-A-2 or Class 3-A-2 certificates or any certificates in Groups 1, 4, 5, and 6.

Interest and principal payments on the certificates will generally be made on the 26th day of each month, commencing in July 2009. Within each group, interest payments will be distributed on a pro rata basis to the certificates and principal payments will be distributed on a sequential basis to the certificates until the certificate principal balance has been reduced to zero.

Any losses realized from the underlying securities will be allocated reverse sequentially to the certificates within each group until their principal balances have been reduced to zero.

The Trust is a resecuritization consisting of six senior residential mortgage-backed securities represented by six real estate mortgage investment conduits (REMICs). For the DBRS-rated groups, the REMIC trusts are backed by pools of prime and Alt-A, adjustable-rate first lien, one- to four-family residential mortgages.

Note:

• denotes Base Certificate.
  ** denotes Exchangeable Certificate.

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 the DBRS website under Methodologies.

This is a Structured Finance rating.