Press Release

DBRS Takes Rating Action on U.S. RMBS Securities

RMBS
August 13, 2014

DBRS has today reviewed 568 classes from 41 U.S. residential mortgage-backed security (RMBS) transactions. Of the 568 classes reviewed, 183 classes were upgraded, 360 classes were confirmed and 25 classes were downgraded. Of the confirmed classes, fifteen classes were placed as Discontinued-Repaid due to full principal repayment to bondholders. All of the classes reviewed 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 transactions that have been upgraded have exhibited positive performance trends and have experienced increases in credit support sufficient to withstand stresses at their new rating level. For transactions where the ratings have been confirmed, current asset performance and credit support levels have been consistent with the current rating. The downgrades taken reflect a combination of the continued erosion of credit support in the underlying transactions as a result of negative trends in delinquency and projected loss activity.

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. ReREMIC transactions. A majority of the pools backing these transactions consists primarily of prime and Alt-A 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.

Ratings

  • BCAP LLC 2008-RR2 Trust

  • CHL Mortgage Pass-Through Trust Resecuritization 2008-3R

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14Resecuritization Pass-Through Certificates, Series 2008-3R, Class 1-A-1C (sf)--Confirmed
    US
    13-Aug-14Resecuritization Pass-Through Certificates, Series 2008-3R, Class 2-A-1C (sf)--Confirmed
    US
    More
    Less

  • CSMC Series 2008-2R

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14CSMC Series 2008-2R, Class 2-A-1C (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2008-2R, Class 2-A-3C (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2008-2R, Class 2-A-4C (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2008-2R, Class 3-A-1C (sf)--Confirmed
    US
    More
    Less

  • CSMC Series 2010-13R

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14CSMC Series 2010-13R Securities, Class 1-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-13R Securities, Class 1-A-10AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-13R Securities, Class 1-A-4AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-13R Securities, Class 1-A-5AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-13R Securities, Class 1-A-6AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-13R Securities, Class 1-A-9AAA (sf)--Confirmed
    US
    More
    Less

  • CSMC Series 2010-19R

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14CSMC Series 2010-19R Class 5-A-2AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-19R Class 5-A-3AAA (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-19R Class 5-A-5AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-19R Class 5-A-6AAA (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-19R Class 6-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-19R Class 6-A-2AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-19R Class 6-A-5AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-19R Class 6-A-3AA (high) (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-19R Class 6-A-6AA (high) (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-19R Class 5-A-1 Discontinued--Disc.-Repaid
    US
    More
    Less

  • CSMC Series 2010-1R

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14CSMC Series 2010-1R, Class 13-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-1R, Class 14-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-1R, Class 25-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-1R, Class 31-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-1R, Class 32-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-1R, Class 45-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-1R, Class 8-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-1R, Class 28-A-1BBB (sf)--Downgraded
    US
    More
    Less

  • CSMC Series 2010-20R

  • CSMC Series 2010-2R

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14CSMC Series 2010-2R, Class 2-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-2R, Class 4-A-12AAA (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 4-A-4AAA (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 5-A-11AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-2R, Class 5-A-3AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-2R, Class 7-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-2R, Class 7-A-10AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-2R, Class 7-A-2AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-2R, Class 2-A-10AA (high) (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 2-A-2AA (high) (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 5-A-12AA (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 5-A-4AA (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 7-A-11AA (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 7-A-3AA (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 2-A-11A (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 2-A-3A (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 7-A-12A (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 7-A-4A (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 2-A-12BB (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 2-A-4BB (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-2R, Class 5-A-10Discontinued--Disc.-Repaid
    US
    13-Aug-14CSMC Series 2010-2R, Class 5-A-2Discontinued--Disc.-Repaid
    US
    More
    Less

  • CSMC Series 2010-4R

  • CSMC Series 2010-5R, Ltd.

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14CSMC Series 2010-5R, Ltd., Class 1-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-5R, Ltd., Class 1-A-2AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-5R, Ltd., Class 1-A-5AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-5R, Ltd., Class 1-A-3AA (high) (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-5R, Ltd., Class 1-A-6AA (high) (sf)--Upgraded
    US
    More
    Less

  • CSMC Series 2010-6R

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14CSMC Series 2010-6R, Class 1-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-6R, Class 2-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-6R, Class 2-A-12AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-6R, Class 2-A-13AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-6R, Class 2-A-16AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-6R, Class 2-A-17AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-6R, Class 2-A-18AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-6R, Class 2-A-19AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-6R, Class 2-A-2AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-6R, Class 2-A-8AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-6R, Class 1-A-2AA (high) (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-6R, Class 2-A-3AA (high) (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-6R, Class 2-A-5AA (high) (sf)--Upgraded
    US
    More
    Less

  • CSMC Series 2010-7R

  • CSMC Series 2010-8R

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14CSMC Series 2010-8R Securities, Class 10-A-1AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-8R Securities, Class 10-A-2AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-8R Securities, Class 10-A-7AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-8R Securities, Class 10-A-8AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-8R Securities, Class 10-A-9AAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-8R Securities, Class 10-AAAAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-8R Securities, Class 10-ABAAA (sf)--Confirmed
    US
    13-Aug-14CSMC Series 2010-8R Securities, Class 10-A-3AA (high) (sf)--Upgraded
    US
    13-Aug-14CSMC Series 2010-8R Securities, Class 10-A-4A (high) (sf)--Confirmed
    US
    More
    Less

  • CSMC Series 2010-9R

  • Citigroup Mortgage Loan Trust 2008-3

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14Re-REMIC Trust Certificates, Series 2008-3, Class A10C (sf)--Confirmed
    US
    13-Aug-14Re-REMIC Trust Certificates, Series 2008-3, Class A11C (sf)--Confirmed
    US
    13-Aug-14Re-REMIC Trust Certificates, Series 2008-3, Class A12C (sf)--Confirmed
    US
    13-Aug-14Re-REMIC Trust Certificates, Series 2008-3, Class A13C (sf)--Confirmed
    US
    13-Aug-14Re-REMIC Trust Certificates, Series 2008-3, Class A14C (sf)--Confirmed
    US
    13-Aug-14Re-REMIC Trust Certificates, Series 2008-3, Class A2C (sf)--Confirmed
    US
    13-Aug-14Re-REMIC Trust Certificates, Series 2008-3, Class A6C (sf)--Confirmed
    US
    13-Aug-14Re-REMIC Trust Certificates, Series 2008-3, Class A7C (sf)--Confirmed
    US
    13-Aug-14Re-REMIC Trust Certificates, Series 2008-3, Class A8C (sf)--Confirmed
    US
    13-Aug-14Re-REMIC Trust Certificates, Series 2008-3, Class A9C (sf)--Confirmed
    US
    More
    Less

  • Citigroup Mortgage Loan Trust 2010-12

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14Resecuritization Trust Certificates, Series 2010-12, Class 2A1AAA (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-12, Class 2A2AAA (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-12, Class 2A5AAA (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-12, Class 2A3AA (high) (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-12, Class 2A6AA (high) (sf)--Upgraded
    US
    More
    Less

  • Citigroup Mortgage Loan Trust 2010-2

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 6A1AAA (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 4A1AAA (high) (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 4A1AA (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 4A1BAA (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 2A2ABBB (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 4A2AB (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 5A2AB (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 2A2C (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 2A2BC (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 3A2C (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 4A2C (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 4A2BC (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 5A2C (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 5A2BC (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 6A2C (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 7A2C (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-2, Class 7A2AC (sf)--Confirmed
    US
    More
    Less

  • Citigroup Mortgage Loan Trust 2010-3

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 1A1AAA (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 1A1IOAAA (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 1A2AAA (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 2A1AAAA (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 3A1AAAA (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 4A1AAA (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 5A1AAA (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 2A1A (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 2A1BA (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 5A1A (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 5A1BA (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 3A1A (low) (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 3A1BA (low) (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 1A3C (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 1A3AC (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 2A2C (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 2A2AC (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 3A2C (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 3A2AC (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 4A2C (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 5A2C (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-3, Class 5A2AC (sf)--Confirmed
    US
    More
    Less

  • Citigroup Mortgage Loan Trust 2010-4

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14Resecuritization Trust Certificates, Series 2010-4, Class 3A2AAA (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-4, Class 3A7AAA (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-4, Class 3A3AA (high) (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-4, Class 3A5AA (high) (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-4, Class 4A1AA (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-4, Class 4A2A (sf)--Upgraded
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-4, Class 4A5A (sf)--Upgraded
    US
    More
    Less

  • Citigroup Mortgage Loan Trust 2010-6

    Date IssuedDebt RatedRatingTrendActionAttributesi
    13-Aug-14Resecuritization Trust Certificates, Series 2010-6, Class 3A1AAA (sf)--Confirmed
    US
    13-Aug-14Resecuritization Trust Certificates, Series 2010-6, Class 3A2AAA (sf)--Confirmed
    US
    More
    Less
    • Show More Issuers
BCAP LLC 2008-RR2 Trust
CHL Mortgage Pass-Through Trust Resecuritization 2008-3R
CSMC Series 2008-2R
CSMC Series 2010-13R
CSMC Series 2010-19R
CSMC Series 2010-1R
CSMC Series 2010-20R
CSMC Series 2010-2R
CSMC Series 2010-4R
CSMC Series 2010-5R, Ltd.
CSMC Series 2010-6R
CSMC Series 2010-7R
CSMC Series 2010-8R
CSMC Series 2010-9R
Citigroup Mortgage Loan Trust 2008-3
Citigroup Mortgage Loan Trust 2010-12
Citigroup Mortgage Loan Trust 2010-2
Citigroup Mortgage Loan Trust 2010-3
Citigroup Mortgage Loan Trust 2010-4
Citigroup Mortgage Loan Trust 2010-6
Show More Issuers
  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating

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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