DBRS Rates J.P. Morgan Resecuritization Trust, Series 2010-1 Trust Certificates

DBRS has today assigned the following ratings to the Trust Certificates issued by J.P. Morgan Resecuritization Trust, Series 2010-1 (the Trust).

-- $79.0 million Class 1-A-1* rated at AAA
-- $85.0 million Class 1-A-2** rated at AA
-- $92.2 million Class 1-A-3** rated at “A”
-- $6.0 million Class 1-A-5* rated at AA
-- $7.2 million Class 1-A-6** rated at “A”
-- $16.4 million Class 2-A-1* rated at AAA
-- $17.8 million Class 2-A-2** rated at AA
-- $19.4 million Class 2-A-3** rated at “A”
-- $1.3 million Class 2-A-5* rated at AA
-- $1.6 million Class 2-A-6* rated at “A”
-- $19.7 million Class 6-A-1* rated at AAA
-- $22.0 million Class 6-A-2** rated at AA
-- $24.2 million Class 6-A-3** rated at “A”
-- $2.3 million Class 6-A-5* rated at AA
-- $2.3 million Class 6-A-6* rated at “A”
-- $19.7 million Class 6-A-13** rated at AAA
-- $22.0 million Class 6-A-14** rated at AA
-- $24.2 million Class 6-A-15** rated at “A”
-- $2.3 million Class 6-A-16** rated at AA
-- $2.3 million Class 6-A-17** rated at “A”

There are six groups total in this resecuritization trust. DBRS rates Groups 1, 2 and 6, each consisting of one to two senior residential mortgage-backed securities (RMBS). The ratings on the certificates reflect the credit enhancement provided by subordination within their respective groups. The ratings on the DBRS-rated groups also reflect the quality of the underlying assets. The Base Certificates are exchangeable for the Exchangeable Certificates and vice versa, in the related combinations described in Exhibit F of the private placement memorandum.

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

Interest and principal payments on the certificates will be made one business day following the underlying distribution date (the 25th of each month), commencing in March 2010. 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 DBRS rated groups are resecuritizations of four senior RMBS represented by three real estate mortgage investment conduits (REMIC). The REMIC trusts are backed by pools of prime, fixed and 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.