DBRS Rates Credit Suisse First Boston Mortgage Securities Corp., CSMC Series 2010-11R

DBRS has today assigned the following ratings to the Credit Suisse First Boston Mortgage Securities Corp., CSMC Series 2010-11R Notes issued by CSMC Series 2010-11R (the Trust).

-- $138.8 million Class A-1 rated at AAA

This CSMC Series 2010-11R trust consists of seven senior resecuritization bonds, which are backed by 11 seasoned senior residential mortgage-backed securities (RMBS). The AAA ratings on the Class A-1 notes reflect the credit enhancement provided by subordination. The ratings also reflect the quality of the underlying securities.

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

Interest and principal payments on the securities will be made generally three business days following the underlying distribution date (the 28th of each month), commencing in May 2010. Interest and then principal will be distributed on a sequential basis to the notes, in the order of priority specified in the private placement memorandum, until the principal balances thereof are reduced to zero.

Any losses realized from the underlying securities will be allocated in a reverse sequential order to the notes.

This Trust is a resecuritization consisting of seven previously-issued senior resecuritization bonds backed by seasoned senior RMBS, represented by various real estate mortgage investment conduits (REMICs). The REMICs are backed by pools of prime and Alt-A, adjustable-rate, first-lien, one- to four-family residential mortgages.

Notes:
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.