DBRS Rates BCAP LLC 2010-RR5 Trust Resecuritization Trust Securities

DBRS has today assigned the following ratings to the Resecuritization Trust Securities issued by BCAP LLC 2010-RR5 Trust (the Trust).

-- $9.3 million Class IV-A1** rated at AA
-- $8.1 million Class IV-A3* rated at AAA
-- $1.1 million Class IV-A4* rated at AA

There are six groups in this resecuritization trust. DBRS rates securities from Group IV, which consists of two seasoned senior residential mortgage-backed securities (RMBS). The ratings on the securities reflect the credit enhancement provided by subordination within their group and the quality of the underlying asset.

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 business day following the underlying distribution date (25th of the month), commencing in May 2010. Within Group IV, interest and then principal payments will be distributed on a sequential basis 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.

Group IV is a resecuritization of two senior RMBS, represented by one real estate mortgage investment conduit (REMIC). Within the DBRS-rated group, the REMIC trust is backed by a pool of seasoned Alt-A, fixed-rate, first-lien one- to four-family residential mortgages.

Notes:

• denotes Initial Exchangeable Security.
  ** denotes Subsequent Exchangeable Security.

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.