DBRS Confirms Ratings on U.S. RMBS Securities

DBRS has today reviewed 264 classes from 102 U.S. residential mortgage-backed security (RMBS) transactions. Of the 264 classes reviewed, all the classes were confirmed. These classes were also removed from Under Review with Developing Implications (see “DBRS Publishes Updated U.S. RMBS Surveillance Methodology and Places Ratings Under Review with Developing Implications,” published on March 3, 2014).

The ratings on these transactions were confirmed as current asset performance and credit support levels have been consistent with the current rating.

The rating actions are the result of DBRS applying its updated “U.S. RMBS Surveillance Methodology” and “RMBS Insight 1.2: U.S. Residential Mortgage-Backed Securities Model and Rating Methodology.”

The transactions affected by the rating actions consist of U.S. Net Interest Margin (NIM) transactions. The NIM transactions were backed by primarily subprime and second-lien residential loans.

Notes:
The applicable methodologies are U.S. RMBS Surveillance Methodology and RMBS Insight 1.2: U.S. Residential Mortgage-Backed Securities Model and Rating Methodology, which can be found on our website under Methodologies.

These ratings are endorsed by DBRS Ratings Limited for use in the European Union.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.