DBRS has today assigned the following ratings to the Resecuritization Trust Securities issued by BCAP LLC 2010-RR1 Trust (the Trust).

-- $26.3 million Class III-A1* rated at AAA
-- $3.1 million Class III-A2* rated at AA
-- $3.8 million Class III-A3* rated at A
-- $29.5 million Class III-A4# rated at AA
-- $33.2 million Class III-A5# rated at A
-- $6.9 million Class III-A6# rated at A
-- $21.9 million Class III-A12# rated at AAA
-- $4.4 million Class III-A13# rated at AAA
-- $11.3 million Class III-A14# rated at A
-- $26.3 million Class III-A15# rated at AAA
-- $6.9 million Class III-A16# rated at A

There are 12 groups in this resecuritization trust. DBRS rates securities from Group III only which consists of a senior residential mortgage-backed security (RMBS), HarborView Mortgage Loan
Trust 2005-14 Class 5-A-1A. The AAA, AA and “A” ratings on the DBRS-rated securities reflect an additional 58%, 53% and 47% of credit enhancement provided by subordination within Group III. The ratings also reflect the quality of the underlying assets. Initial exchangeable securities may be exchanged for subsequent exchangeable securities, and vice versa, in the combinations described in the private placement memorandum.

Other than the specified classes above, DBRS does not rate any other securities in this transaction.

Interest and principal payments on the securities will generally be made on the 20th day of each month for Group III, commencing in February 2010. Interest payments on the rated securities will be distributed on a pro rata basis. Principal payments will be distributed on a sequential basis to the rated securities until the principal balances have been reduced to zero.
Any losses realized from the underlying security will be allocated in a reverse sequential order, until the principal balances have been reduced to zero.

The Trust is a resecuritization of 12 senior RMBS, represented by various real estate mortgage investment conduits (REMICs). Within the DBRS-rated group, the trust is backed primarily by a pool of seasoned Alt-A, adjustable rate, first-lien one- to four-family residential mortgages.

Notes:

• denotes Initial Exchangeable Certificate.

denotes Subsequent 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 our website under Methodologies.

This is a Structured Finance rating.