DBRS Takes Rating Actions on Four U.S. RMBS Securities

DBRS, Inc. (DBRS) has today taken rating actions on 4 classes from 4 U.S. Residential Mortgage-Backed Securities (RMBS) transactions. All 4 classes are confirmed. Of the confirmed classes, one of the ratings is then to be Discontinued –Repaid due to repayment of the bonds. These four classes have also been 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).

These transactions are backed by non-performing residential mortgages loans.

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 the confirmed transactions, current asset performance and credit support levels are consistent with the current rating.

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.