DBRS Confirms Ratings on AHM SART 3

DBRS, Inc. (DBRS) has confirmed its outstanding ratings on AH Mortgage Advance Company, Ltd., Advance Receivables Backed Notes, Series 2012-1 and Series 2012-2, and AH Mortgage Servicer Advance Revolving Trust 3, Advance Receivables Backed Notes, Series 2012-OS, based on a review of the amendments to the Receivables Sales Agreement, Participation Allocation Agreement, Onshore Indenture and Offshore Indenture. The amendments include additional items to be reported by the calculation agent, removal of an incorrect seller representation and amendment to the flow of funds mechanic between the onshore and the offshore issuer.

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

Ratings

AH Mortgage Advance Company, Ltd., Series 2012-1

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
18-Jun-12	Class 1A-1 Term Notes	AAA (sf)	--	Confirmed	US E
18-Jun-12	Class 1A-2 Term Notes	AAA (sf)	--	Confirmed	US E
18-Jun-12	Class 1B Term Notes	AA (sf)	--	Confirmed	US E
18-Jun-12	Class 1C Term Notes	A (sf)	--	Confirmed	US E
18-Jun-12	Class 1D Term Notes	BBB (sf)	--	Confirmed	US E

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AH Mortgage Advance Company, Ltd., Series 2012-2

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
18-Jun-12	Class 2A VFN	AAA (sf)	--	Confirmed	US E
18-Jun-12	Class 2B VFN	AA (sf)	--	Confirmed	US E
18-Jun-12	Class 2C VFN	A (sf)	--	Confirmed	US E
18-Jun-12	Class 2D VFN	BBB (sf)	--	Confirmed	US E

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AH Mortgage Servicer Advance Revolving Trust 3, Series 2012-OS

Date Issued	Debt Rated	Rating	Trend	Action	Attributesi
18-Jun-12	Class OS-A VFN	AAA (sf)	--	Confirmed	US E
18-Jun-12	Class OS-B VFN	AA (sf)	--	Confirmed	US E
18-Jun-12	Class OS-C VFN	A (sf)	--	Confirmed	US E
18-Jun-12	Class OS-D VFN	BBB (sf)	--	Confirmed	US E

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AH Mortgage Advance Company, Ltd., Series 2012-1

Class 1A-1 Term Notes

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:USE

Class 1A-2 Term Notes

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:USE

Class 1B Term Notes

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:USE

Class 1C Term Notes

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:USE

Class 1D Term Notes

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:USE

AH Mortgage Advance Company, Ltd., Series 2012-2

Class 2A VFN

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:USE

Class 2B VFN

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:USE

Class 2C VFN

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:USE

Class 2D VFN

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:USE

AH Mortgage Servicer Advance Revolving Trust 3, Series 2012-OS

Class OS-A VFN

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:AAA (sf)
Trend:--
Rating Recovery:
Issued:USE

Class OS-B VFN

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:AA (sf)
Trend:--
Rating Recovery:
Issued:USE

Class OS-C VFN

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:A (sf)
Trend:--
Rating Recovery:
Issued:USE

Class OS-D VFN

Date Issued:Jun 18, 2012
Rating Action:Confirmed
Ratings:BBB (sf)
Trend:--
Rating Recovery:
Issued:USE

ALL MORNINGSTAR DBRS RATINGS ARE SUBJECT TO DISCLAIMERS AND CERTAIN LIMITATIONS. PLEASE READ THESE DISCLAIMERS AND LIMITATIONS AND ADDITIONAL INFORMATION REGARDING MORNINGSTAR DBRS RATINGS, INCLUDING DEFINITIONS, POLICIES, RATING SCALES AND METHODOLOGIES.

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