DBRS Takes Action On Potential Interest Rate Swap Termination Payments for Swap Agreements Between J.P. Morgan Chase Bank, N.A. (Swap Counterparty) and RMBS Trusts

DBRS Inc., (DBRS) has today assigned the following ratings to the ultimate payment of any potential interest rate swap (IRS) termination amounts which may be owed by the RMBS trusts to J.P. Morgan Chase Bank, N.A. in the event of a failure to pay default where the trust is the defaulting party.

• Interest rate swap between Soundview Home Loan Trust 2007-OPT1 and J.P. Morgan Chase Bank, N.A. upgraded from ‘A’ (sf) to ‘AA’ (sf).

• Interest rate swap between CWABS Asset-Backed Certificates Trust 2007-10 and J.P. Morgan Chase Bank, N.A. confirmed at ‘A’ (sf).

The ratings do not address a) the likelihood that a swap termination event occurs on or before the swap termination date, (b) the payment of any swap termination payments owed by J.P. Morgan Chase Bank, N.A. to the trusts and (c) termination payments owed by the trusts to J.P. Morgan Chase Bank, N.A. if J.P. Morgan Chase Bank, N.A. is the defaulting party.

Notes:
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.