DBRS Rates Reconfiguration B.V. Deferrable Secured Notes

DBRS has today assigned the following ratings to the Deferrable Secured Notes, issued by Reconfiguration B.V. (the Trust).

-- $12.4 million Class 1-A1 rated at AAA
-- $0.9 million Class 1-B rated at AA
-- $0.8 million Class 1-C rated at “A”
-- $0.9 million Class 1-D rated at BBB
-- $0.6 million Class 1-E rated at BB

-- $15.4 million Class 2-A1 rated at AAA
-- $1.6 million Class 2-B rated at AA
-- $1.3 million Class 2-C rated at “A”
-- $1.3 million Class 2-D rated at BBB
-- $1.0 million Class 2-E rated at BB

-- $55.2 million Class 3-A1 rated at AAA
-- $6.5 million Class 3-B rated at AA
-- $5.4 million Class 3-C rated at “A”
-- $6.5 million Class 3-D rated at BBB
-- $4.3 million Class 3-E rated at BB

-- $24.4 million Class 4-A1 rated at AAA
-- $2.8 million Class 4-B rated at AA
-- $1.8 million Class 4-C rated at “A”
-- $2.8 million Class 4-D rated at BBB
-- $1.8 million Class 4-E rated at BB

DBRS rates all 4 series in this trust, each consisting of one seasoned senior residential mortgage-backed security. Each series generally consists of Class A1, A1 Support Notes, A2, B, C, D, E, F, G, H, I and J, certain classes are not issued as of the closing date. The ratings on the notes reflect the credit enhancement provided by subordination within their respective groups, as well as the quality of the underlying securities.

Interest and principal payments on the notes will generally be made five business days after the distribution date of the underlying securities, commencing in April 2010. Within each series, interest payments, after expenses, 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 series until their principal balances have been reduced to zero.

The Trust consists of 4 senior residential mortgage-backed securities represented by various real estate mortgage investment conduits (REMICs). The REMIC trusts are primarily backed by pools of prime, fixed rate, first lien, one- to four-family residential mortgages.

Note:
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.