Press Release

DBRS Downgrades 241 Classes from 95 RMBS Transactions

RMBS

August 28, 2009

DBRS has today downgraded 241 classes from 95 Residential Mortgage-Backed Securities (RMBS) transactions.

The collateral backing these transactions consists primarily of first-lien, fixed and adjustable-rate Subprime and Alt-A mortgages.

The classes have been downgraded as a result of the significant increase in serious delinquencies and losses relative to the available credit enhancement.

Additionally, the continued negative trend in the housing market and unemployment rates have contributed significantly to the increased default expectations as well as to the considerably lower prepayment expectations.

Given the combination of current delinquencies and corresponding potential significant losses, along with expectations for future delinquencies and defaults, current credit support is not expected to sufficiently cover the anticipated losses. In many cases, subordinate classes have already been impaired, further weakening the available credit support for the remaining senior and mezzanine classes.

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

DBRS's rating definitions and the terms of use of such ratings are available at www.dbrs.com.

Related Research
U.S. RMBS Surveillance Methodology

Ratings

ACE Securities Corp. Home Equity Loan Trust, Series 2005-RM1

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Asset-Backed Pass-Through Certificates, Series 2005-RM1, Class B-3	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Asset-Backed Pass-Through Certificates, Series 2006-ASAP1, Class M-11	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Asset-Backed Pass-Through Certificates, Series 2006-HE2, Class M-11	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Asset-Backed Pass-Through Certificates, Series 2006-HE4, Class M-10	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Asset-Backed Pass-Through Certificates, Series 2007-WM1, Class M-10	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Alliance NIM Notes, Series 2007-OA1, Class N-2	C (sf)	--	Downgraded	US
28-Aug-09	Alliance NIM Notes, Series 2007-OA1, Class N-3	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Asset-Backed Pass-Through Certificates, Series AMQ 2006-HE7, Class M11	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Asset-Backed Pass-Through Certificates, Series NC 2006-HE2, Class M11	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-22	BBB (high) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-26	BBB (high) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-27	BBB (high) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-28	BBB (high) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-29	BBB (high) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-8	BBB (high) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-23	BBB (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-24	BBB (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-25	BBB (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-30	BBB (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-6	BBB (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-1	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-10	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-11	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-12	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-13	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-14	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-15	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-16	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-17	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-18	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-19	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-2	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-20	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-21	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-3	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-31	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-32	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-33	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-34	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-35	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-4	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-5	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-7	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-9	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-R	BBB (low) (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-14	BBB (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-9	BBB (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-IO	BBB (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-2-IO	BBB (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-1	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-10	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-11	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-12	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-13	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-15	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-2	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-3	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-4	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-5	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-6	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-7	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-8	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-PO	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-2-A-1	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-2-PO	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	NIM Securities, Series 2007-3	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 4-A-1	BBB (high) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 6-A-1	BBB (high) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 1-A-2	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 2-A-2	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 3-A-2	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 4-A-2	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 5-A-2	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 6-A-2	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 7-A-1	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 8-A-1	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 8-A-6	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 9-A-1	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-7	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-8	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-9	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class J-B-1	BB (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 10-A-2	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 10-A-3	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 10-A-4	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 11-A-2	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 11-A-3	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 11-A-4	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 12-A-2	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 7-A-2	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 8-A-2	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 8-A-3	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 8-A-4	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 9-A-2	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 9-A-3	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class 9-A-4	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-3	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-4	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-5	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-6	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class J-B-2	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class J-B-3	C (sf)	--	Downgraded	US
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-E, Class X-B-1	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Mortgage Pass-Through Certificates, Series 2007-AR2, Class A-1	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	NIM Notes, Series 2006-24, Class VII-A-3	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	NIM Notes, Series 2007-N1, Class V-A-1	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	NIM Notes, Series 2007-N2, Class IV-A-1	C (sf)	--	Downgraded	US
28-Aug-09	NIM Notes, Series 2007-N2, Class IV-A-2	C (sf)	--	Downgraded	US
28-Aug-09	NIM Notes, Series 2007-N2, Class IV-A-3	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	NIM Notes, RAMP 2005-RZ4, Series BSSP 2005-33, Class A-3	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-3R, Class 1-A-1	BBB (high) (sf)	--	Downgraded	US
28-Aug-09	Resecuritization Pass-Through Certificates, Series 2008-3R, Class 2-A-1	BBB (low) (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	CSMC Certificates, Series 2007-3R, Class M-1	BBB (low) (sf)	--	Downgraded	US
28-Aug-09	CSMC Certificates, Series 2007-3R, Class M-2	B (sf)	--	Downgraded	US
28-Aug-09	CSMC Certificates, Series 2007-3R, Class B-1	C (sf)	--	Downgraded	US
28-Aug-09	CSMC Certificates, Series 2007-3R, Class B-2	C (sf)	--	Downgraded	US

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
28-Aug-09	CSMC Series 2008-2R, Class 2-A-1	A (high) (sf)	--	Downgraded	US
28-Aug-09	CSMC Series 2008-2R, Class 2-A-4	A (low) (sf)	--	Downgraded	US
28-Aug-09	CSMC Series 2008-2R, Class 3-A-1	BBB (high) (sf)	--	Downgraded	US
28-Aug-09	CSMC Series 2008-2R, Class 2-A-3	BBB (low) (sf)	--	Downgraded	US

Show More Issuers

ACE Securities Corp. Home Equity Loan Trust, Series 2005-RM1

Asset-Backed Pass-Through Certificates, Series 2005-RM1, Class B-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
Rating Recovery:
Issued:US

ACE Securities Corp. Home Equity Loan Trust, Series 2006-ASAP1

Asset-Backed Pass-Through Certificates, Series 2006-ASAP1, Class M-11

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
Rating Recovery:
Issued:US

ACE Securities Corp. Home Equity Loan Trust, Series 2006-HE2

Asset-Backed Pass-Through Certificates, Series 2006-HE2, Class M-11

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
Rating Recovery:
Issued:US

ACE Securities Corp. Home Equity Loan Trust, Series 2006-HE4

Asset-Backed Pass-Through Certificates, Series 2006-HE4, Class M-10

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
Rating Recovery:
Issued:US

ACE Securities Corp. Home Equity Loan Trust, Series 2007-WM1

Asset-Backed Pass-Through Certificates, Series 2007-WM1, Class M-10

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
Rating Recovery:
Issued:US

Alliance NIM Trust 2007-OA1

Alliance NIM Notes, Series 2007-OA1, Class N-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
Rating Recovery:
Issued:US

Alliance NIM Notes, Series 2007-OA1, Class N-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
Rating Recovery:
Issued:US

Asset Backed Securities Corporation Home Equity Loan Trust, Series AMQ 2006-HE7

Asset-Backed Pass-Through Certificates, Series AMQ 2006-HE7, Class M11

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
Rating Recovery:
Issued:US

Asset Backed Securities Corporation Home Equity Loan Trust, Series NC 2006-HE2

Asset-Backed Pass-Through Certificates, Series NC 2006-HE2, Class M11

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
Rating Recovery:
Issued:US

BCAP LLC 2008-RR2 Trust

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-22

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-26

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-27

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-28

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-29

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-8

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (high) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-23

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-24

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-25

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-30

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-6

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-10

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-11

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-12

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-13

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-14

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-15

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-16

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-17

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-18

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-19

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-20

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-21

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
Rating Recovery:
Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-31

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-32

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-33

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-34

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-35

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-4

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-5

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-7

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-9

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Resecuritization Pass-Through Certificates, Series 2008-RR2, Class A-R

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

BCAP LLC Trust 2007-AA2

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-14

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-9

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-IO

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-2-IO

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-10

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-11

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-12

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-13

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-15

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-4

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-5

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-6

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-7

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-A-8

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-1-PO

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-2-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-AA2, Class II-2-PO

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
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Issued:US

BNC NIMS Trust 2007-3

NIM Securities, Series 2007-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
Rating Recovery:
Issued:US

Banc of America Funding 2007-E Trust

Mortgage Pass-Through Certificates, Series 2007-E, Class 4-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (high) (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 6-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (high) (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 1-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 2-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 3-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 4-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 5-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 6-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 7-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 8-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 8-A-6

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 9-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
Trend:--
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-7

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-8

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-9

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class J-B-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BB (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 10-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 10-A-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 10-A-4

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 11-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 11-A-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 11-A-4

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 12-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 7-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 8-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 8-A-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 8-A-4

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 9-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 9-A-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class 9-A-4

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-4

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-5

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class C-A-6

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class J-B-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class J-B-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Mortgage Pass-Through Certificates, Series 2007-E, Class X-B-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Bear Stearns Mortgage Funding Trust 2007-AR2

Mortgage Pass-Through Certificates, Series 2007-AR2, Class A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
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Issued:US

Bear Stearns Structured Products Inc. NIM Trust 2006-24

NIM Notes, Series 2006-24, Class VII-A-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Bear Stearns Structured Products Inc. NIM Trust 2007-N1

NIM Notes, Series 2007-N1, Class V-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Bear Stearns Structured Products Inc. NIM Trust 2007-N2

NIM Notes, Series 2007-N2, Class IV-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

NIM Notes, Series 2007-N2, Class IV-A-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

NIM Notes, Series 2007-N2, Class IV-A-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

Bear Stearns Structured Products Inc. RAMP 2005-RZ4 NIM Trust, Series BSSP 2005-33

NIM Notes, RAMP 2005-RZ4, Series BSSP 2005-33, Class A-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
Trend:--
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Issued:US

CHL Mortgage Pass-Through Trust Resecuritization 2008-3R

Resecuritization Pass-Through Certificates, Series 2008-3R, Class 1-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (high) (sf)
Trend:--
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Issued:US

Resecuritization Pass-Through Certificates, Series 2008-3R, Class 2-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

CSMC Series 2007-3R

CSMC Certificates, Series 2007-3R, Class M-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

CSMC Certificates, Series 2007-3R, Class M-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:B (sf)
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Issued:US

CSMC Certificates, Series 2007-3R, Class B-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

CSMC Certificates, Series 2007-3R, Class B-2

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:C (sf)
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Issued:US

CSMC Series 2008-2R

CSMC Series 2008-2R, Class 2-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:A (high) (sf)
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Issued:US

CSMC Series 2008-2R, Class 2-A-4

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:A (low) (sf)
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Issued:US

CSMC Series 2008-2R, Class 3-A-1

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (high) (sf)
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Issued:US

CSMC Series 2008-2R, Class 2-A-3

Date Issued:Aug 28, 2009
Rating Action:Downgraded
Ratings:BBB (low) (sf)
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Issued:US

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ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.

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