DBRS Rates BCAP LLC 2010-RR11 Trust Resecuritization Trust Securities

DBRS has today assigned the following ratings to the Resecuritization Trust Securities issued by BCAP LLC 2010-RR11 Trust (the Trust).

-- $5.9 million Class 1A1 rated at A (sf)
-- $8.2 million Class 2A1* rated at AAA (sf)
-- $1.4 million Class 2A2* rated at AA (sf)
-- $1.6 million Class 2A3* rated at A (sf)
-- $9.5 million Class 2A4** rated at AA (sf)
-- $11.2 million Class 2A5** rated at A (sf)
-- $3.0 million Class 2A6** rated at A (sf)

There are nine groups in this resecuritization trust. DBRS rates securities from Groups 1 and 2. Each DBRS-rated group consists of one seasoned senior residential mortgage-backed security (RMBS). The ratings on the securities reflect the credit enhancement provided by subordination within their respective groups and the quality of the underlying assets. Initial Exchangeable securities may be exchanged for Subsequent Exchangeable securities, and vice versa, in the combinations described in the private placement memorandum.

The ratings assigned to the certificates address the likelihood of the receipt by certificate holders of all distributions to which such certificate holders are entitled to and as such the entitlements may be reduced by (i) the allocation of certain interest shortfalls that may include interest shortfalls resulting from prepayments, application of any Relief Act reductions and interest rate modifications on the underlying collateral and (ii) any extraordinary trust expenses that may be incurred. For more details on the ratings, please refer to the offering documents.

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 December 2010. Within the DBRS-rated groups, interest payments will be distributed on a pro-rata basis. Principal payments will be distributed on a sequential basis, until the principal balances have been reduced to zero.

Any losses realized from the underlying securities will be allocated in a reverse sequential order within each group, until the principal balances have been reduced to zero.

Each DBRS-rated group is a resecuritization of one seasoned senior RMBS, represented by one real estate mortgage investment conduit (REMIC). The REMICs are backed by pools of seasoned, subprime, fixed- and adjustable-rate, 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.