Press Release

DBRS Rates BCAP LLC 2010-RR6 Trust Resecuritization Trust Securities

RMBS
May 28, 2010

DBRS has today assigned the following ratings to the Resecuritization Trust Securities issued by BCAP LLC 2010-RR6 Trust (the Trust).

Group 9 Offered Securities
-- $20.0 million Class 9A1* rated at AAA
-- $4.5 million Class 9A2* rated at AA
-- $4.5 million Class 9A3* rated at A
-- $24.5 million Class 9A4** rated at AA
-- $29.1 million Class 9A5** rated at A
-- $9.1 million Class 9A6** rated at A

Group 11 Offered Securities
-- $76.0 million Class 11A1* rated at AAA
-- $2.7 million Class 11A2* rated at AA
-- $2.7 million Class 11A3* rated at A
-- $78.7 million Class 11A4** rated at AA
-- $81.4 million Class 11A5** rated at A
-- $5.4 million Class 11A6** rated at A

Group 24 Offered Securities
-- $20.3 million Class 24A1* rated at AAA
-- $1.2 million Class 24A2* rated at AA
-- $1.5 million Class 24A3* rated at A
-- $21.5 million Class 24A4** rated at AA
-- $22.9 million Class 24A5** rated at A
-- $2.6 million Class 24A6** rated at A
-- $1.2 million Class 24A10** rated at AA
-- $1.5 million Class 24A11** rated at A
-- $2.6 million Class 24A12** rated at A

Class 25 Offered Securities
-- $2.7 million Class 25A1* rated at AAA
-- $0.7 million Class 25A2* rated at AA
-- $0.5 million Class 25A3* rated at A
-- $3.4 million Class 25A4** rated at AA
-- $4.0 million Class 25A5** rated at A
-- $1.2 million Class 25A6** rated at A

There are 25 groups in this resecuritization trust. DBRS rates securities from Groups 9, 11, and 24 which each consist of a seasoned senior residential mortgage-backed securities (RMBS). In addition, DBRS rates securities from Group 25 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 respective groups 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 June 2010. Within Groups 11, 24 and 25, interest will be paid pro-rata and principal payments will be distributed on a sequential basis until the principal balances have been reduced to zero. Within Group 9, 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.

Groups 9, 11, and 24 are resecuritizations of a senior RMBS, represented by one real estate mortgage investment conduit (REMIC). Group 25 is a resecuritization of two senior RMBS, represented by one real estate 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.

Ratings

BCAP LLC 2010-RR6 Trust
  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.