DBRS Confirms Rating on GMAC Mortgage Servicer Advance Funding Company Ltd. Advance Receivables Backed Notes, Series 2011-1

DBRS has today confirmed its rating on the following class of notes issued by GMAC Mortgage Servicer Advance Funding Company Ltd. Advance Receivables Backed Notes, Series 2011-1 (GMAC GSAP 2011-1):

-Series 2011-1, Class A Notes rated AAA (sf)

Earlier today, DBRS published an update to its methodology for rating U.S. RMBS servicing advance transactions. The update incorporates increases in the number of months used to delay the stressed servicing advance reimbursements. The update also contemplates the potential for further delays to be added to the stressed servicing advance reimbursements based upon a review of the servicer’s state level liquidation timelines, state concentrations in the underlying RMBS transactions, the servicer’s current foreclosure process and financial condition.

The rating confirmation reflects the use of assumptions consistent with the updated methodology, which may be found by accessing the link below.

Note:
The applicable methodology is Rating U.S. RMBS Servicing Advance Transactions, which can be found on our website under Methodologies.