DBRS Rates Citigroup Mortgage Loan Trust 2011-12

DBRS has today assigned the following ratings to the Resecuritization Trust Certificates, Series 2011-12, issued by Citigroup Mortgage Loan Trust 2011-12 (the Trust):

-- $13.6 million Class 1A1* rated at A (sf)
-- $14.0 million Class 2A1* rated at A (sf)
-- $22.9 million Class 3A1* rated at A (sf)
-- $9.7 million Class 4A1* rated at A (sf)

There are four groups total in this resecuritization trust. DBRS rates securities from all four 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 assets. Certain classes of certificates (Regular Certificates) are exchangeable for certain other classes of certificates (Combined Certificates) and vice versa, in the combinations described in the private placement memorandum.

The ratings assigned to the offered securities address (i) the likelihood of the receipt by security holders of all principal distributions to which such security holders are entitled and (ii) the likelihood of the receipt by security holders of the amount of interest actually received by the trust to the extent payable to each class in accordance with the priorities described in the operative documents (as such interest received by the trust may have been reduced as a result of any interest shortfalls allocated to the related underlying securities, and as such interest entitlement may be further reduced by the allocation of extraordinary trust expenses). For more details on the ratings, please refer to the offering and transaction legal documents.

Other than the specified classes above, DBRS does not rate any other certificates in this transaction.

Interest and principal payments on the certificates will be made on the same day as the underlying distribution date (generally the 25th of each month for Groups 1, 2 and 3 and the 20th of each month for Group 4), commencing in January 2012. Interest payments will be distributed on a pro rata basis to the certificates within their respective groups. Principal will be distributed on a sequential basis to the certificates within their respective groups until the certificate principal balances thereof are reduced to zero.

Except for Group 2, any losses realized from the underlying securities will be allocated in a reverse sequential order to the certificates within their respective groups. For Group 2, the monthly increase in the Implied Realized Loss Amount for the Group 2 Underlying Security will be allocated to reduce the certificate principal balances in reverse sequential order.

Each group within the Trust is a resecuritization consisting of one senior RMBS represented by one real estate mortgage investment conduit (REMIC). Within each group, the REMIC is backed by a pool of seasoned, Alt-A or Prime, first lien, adjustable-rate, one- to four-family residential mortgage loans.

Notes:

• denotes Regular Certificates.

All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is RMBS Insight: U.S. Residential Mortgage-Backed Securities Loss Model and Rating Methodology, which can be found on our website under Methodologies.

The Rule 17g-7 Report of Representations and Warranties is hereby incorporated by reference and can be found by clicking on the link or by contacting us at info@dbrs.com.