DBRS Rates Jefferies Resecuritization Trust 2010-R8

DBRS has today assigned the following ratings to the Resecuritization Trust Certificates, Series 2010-R8 issued by Jefferies Resecuritization Trust 2010-R8 (the Trust).

-- $27.19* million Class 1-A1 rated at A (sf)
-- $7.98 million Class 2-A1 rated at A (sf)

There are two groups in this resecuritization trust. DBRS rates both groups, each consisting of one seasoned senior residential mortgage-backed security (RMBS). The ratings on the certificates reflect the credit enhancement provided by subordination within each group. The ratings also reflect the quality of the underlying securities. The Initial Exchangeable Certificates are exchangeable for the Exchangeable Certificates and vice versa, in the related combinations described in the private placement memorandum.

The ratings of DBRS assigned to the certificates address the likelihood of the receipt by certificateholders of all distributions to which such certificateholders are entitled, as such entitlements may be reduced by (i) the allocation of certain net interest shortfalls allocated the underlying certificates, including but not limited to net interest shortfalls resulting from prepayments of the related mortgage loans, application of the relief act in respect of the related mortgage loans or reductions in the interest rate on the related mortgage loans as a result of modifications on such mortgage loans, or any interest shortfalls resulting from the underlying servicer’s failure to make any required advances of interest on the underlying mortgage loans and (ii) any related Extraordinary Trust Fund Expenses.

Within each DBRS-rated group, interest and principal payments on the certificates will generally be made one business day following the underlying distribution date (the 25th day of each month) commencing in January 2011. Interest payments will be distributed on a sequential basis to the certificates. Principal payments will also be distributed on a sequential basis to the certificates until their certificate principal balances have been reduced to zero.

Any losses realized from the underlying securities will be allocated reverse sequentially to the certificates within each group until their principal balances have been reduced to zero.

Each DBRS-rated group within the Trust is a resecuritization of one senior RMBS represented by one real estate mortgage investment conduit (REMIC). The REMIC trusts are backed by pools of prime or Alt-A, fixed- or adjustable-rate, first lien, one- to four-family residential mortgages.

Note:

• denotes Initial Exchangeable Certificate.

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 the DBRS website under Methodologies.