Press Release

DBRS Takes Rating Actions on U.S. RMBS Securities

CMBS
January 26, 2012

DBRS, Inc. has today taken rating actions on 44 classes from 34 U.S. Residential Mortgage-Backed Securities (RMBS) transactions. Of the 34 transactions reviewed, 32 classes from 22 transactions were confirmed and 12 classes from 12 transactions were discontinued due to repayment to note holders. Forty-two of these classes were also removed from Under Review with Developing Implications (see “DBRS Places 6,566 Classes from 576 U.S. RMBS Transactions Under Review”, published on January 23, 2012).

A majority of the U.S. RMBS transactions affected by the rating actions are backed by residential mortgages from collateral consisting primarily of subprime, prime and Alt-A products.

The rating actions are a result of DBRS applying its updated U.S. RMBS Surveillance methodology dated January 23, 2012. The methodology describes the application of the DBRS RMBS Insight model in the surveillance process (see “RMBS Insight: U.S. Residential Mortgage-Backed Securities Loss Model and Rating Methodology” on www.dbrs.com).

For transactions where the rating has been confirmed, current asset performance and credit support levels were consistent with the current rating or linked to the rating of corporate entities providing credit support to the tranche or transaction.

The principal methodologies applicable are U.S. RMBS Surveillance Methodology, dated January 2012 and RMBS Insight: U.S. Residential Mortgage-Backed Securities Loss Model and Rating Methodology, dated January 2012, which can be found on our website under Methodologies.

Ratings

ACE Securities Corp. Home Equity Loan Trust, Series 2007-HE5
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:A (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
Accredited Mortgage Loan Trust 2005-3
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:C (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
Bear Stearns Structured Products Inc. RAMP 2004-RZ4 NIM Trust, Series BSSP 2005-25
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:C (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:USE
Bear Stearns Structured Products Inc. RAMP 2005-RZ4 NIM Trust, Series BSSP 2005-33
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:C (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Acceptance Corp. Home Equity Asset Trust 2005-9
  • Date Issued:Jan 26, 2012
  • Rating Action:Disc.-Repaid, Confirmed
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Securities Corp. Adjustable Rate Mortgage Trust 2005-7
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:C (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Securities Corp. Adjustable Rate Mortgage Trust 2005-9
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:C (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust 2005-4
  • Date Issued:Jan 26, 2012
  • Rating Action:Disc.-Repaid, Confirmed
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust 2005-5
  • Date Issued:Jan 26, 2012
  • Rating Action:Disc.-Repaid, Confirmed
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust 2005-6
  • Date Issued:Jan 26, 2012
  • Rating Action:Disc.-Repaid, Confirmed
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust 2005-8
  • Date Issued:Jan 26, 2012
  • Rating Action:Disc.-Repaid, Confirmed
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust 2006-2
  • Date Issued:Jan 26, 2012
  • Rating Action:Disc.-Repaid, Confirmed
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust 2006-3
  • Date Issued:Jan 26, 2012
  • Rating Action:Disc.-Repaid, Confirmed
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust 2006-4
  • Date Issued:Jan 26, 2012
  • Rating Action:Disc.-Repaid, Confirmed
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust 2006-6
  • Date Issued:Jan 26, 2012
  • Rating Action:Disc.-Repaid, Confirmed
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust 2006-7
  • Date Issued:Jan 26, 2012
  • Rating Action:Disc.-Repaid, Confirmed
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Credit Suisse First Boston Mortgage Securities Corp. Home Equity Asset Trust 2007-1
  • Date Issued:Jan 26, 2012
  • Rating Action:Disc.-Repaid, Confirmed
  • Ratings:Discontinued
  • Trend:--
  • Rating Recovery:
  • Issued:US
Farmer Mac Guaranteed Notes Trust 2007-1
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:AA (low) (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
GMACM Home Equity Loan Trust 2005-HE2
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:C (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:C (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:C (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
HarborView NIM CI-5 Corp.
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:C (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:C (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:C (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
  • Date Issued:Jan 26, 2012
  • Rating Action:Confirmed
  • Ratings:C (sf)
  • Trend:--
  • Rating Recovery:
  • Issued:US
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  • U = UK endorsed
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