Press Release

DBRS Morningstar Takes Rating Actions on 15 U.S. RMBS Transactions

RMBS
October 27, 2022

DBRS, Inc. (DBRS Morningstar) reviewed 171 classes from 15 U.S. residential mortgage-backed security (RMBS) transactions. Of the 171 classes reviewed, DBRS Morningstar upgraded 18 ratings, confirmed 149 ratings, and discontinued four ratings.

The rating upgrades reflect positive performance trends and increases in credit support sufficient to withstand stresses at their new rating levels. The rating confirmations reflect asset performance and credit-support levels that are consistent with the current ratings. The discontinued ratings reflect the full repayment of principal to bondholders.

The RMBS transactions reviewed consist securitizations of Alt-A and subprime mortgages.

The ratings assigned to the securities listed below differ from the ratings implied by the quantitative model. DBRS Morningstar considers these differences material deviations; however, in these cases, the ratings on the subject securities may reflect additional seasoning being warranted to substantiate a further upgrade or small loan counts.

-- CWABS Asset-Backed Certificates Trust 2004-BC5, Asset-Backed Certificates, Series 2004-BC5, Class M-5
-- CWABS Asset-Backed Certificates Trust 2004-BC5, Asset-Backed Certificates, Series 2004-BC5, Class M-6
-- CWABS Asset-Backed Certificates Trust 2004-BC5, Asset-Backed Certificates, Series 2004-BC5, Class M-7
-- CWABS Asset-Backed Certificates Trust 2004-BC5, Asset-Backed Certificates, Series 2004-BC5, Class M-8
-- DSLA Mortgage Loan Trust 2005-AR6, Mortgage Pass-Through Certificates, Series 2005 AR6, Class 2A-1A
-- Encore Credit Receivables Trust 2005-4, Asset-Backed Pass-Through Certificates, Series 2005-4, Class M-4
-- Encore Credit Receivables Trust 2005-4, Asset-Backed Pass-Through Certificates, Series 2005-4, Class M-5
-- First Franklin Mortgage Loan Trust 2006-FF8, Asset-Backed Certificates, Series 2006-FF8, Class II-A4
-- GSR Mortgage Loan Trust 2005-AR6, Mortgage Pass-Through Certificates, Series 2005-AR6, Class 1A2
-- GSR Mortgage Loan Trust 2005-AR6, Mortgage Pass-Through Certificates, Series 2005-AR6, Class 2A1
-- GSR Mortgage Loan Trust 2005-AR6, Mortgage Pass-Through Certificates, Series 2005-AR6, Class 2A2
-- GSR Mortgage Loan Trust 2005-AR6, Mortgage Pass-Through Certificates, Series 2005-AR6, Class 3A1
-- GSR Mortgage Loan Trust 2005-AR6, Mortgage Pass-Through Certificates, Series 2005-AR6, 3A2
-- GSR Mortgage Loan Trust 2005-AR6, Mortgage Pass-Through Certificates, Series 2005-AR6, Class 4A1
-- GSR Mortgage Loan Trust 2005-AR6, Mortgage Pass-Through Certificates, Series 2005-AR6, Class 4A2
-- GSR Mortgage Loan Trust 2005-AR6, Mortgage Pass-Through Certificates, Series 2005-AR6, Class 4A5
-- J.P. Morgan Mortgage Trust 2005-A4, Mortgage Pass-Through Certificates, Series 2005-A4, Class 1-A-1
-- J.P. Morgan Mortgage Trust 2005-A4, Mortgage Pass-Through Certificates, Series 2005-A4, Class 2-A-1
-- J.P. Morgan Mortgage Trust 2005-A4, Mortgage Pass-Through Certificates, Series 2005-A4, Class 4-A-2
-- J.P. Morgan Mortgage Trust 2005-A4, Mortgage Pass-Through Certificates, Series 2005-A4, Class B-1
-- J.P. Morgan Mortgage Trust 2005-A5, Mortgage Pass-Through Certificates, Series 2005-A5, Class 1-A-2
-- J.P. Morgan Mortgage Trust 2005-A5, Mortgage Pass-Through Certificates, Series 2005-A5, Class 2-A-2
-- J.P. Morgan Mortgage Trust 2005-A5, Mortgage Pass-Through Certificates, Series 2005-A5, Class 2-A-3
-- J.P. Morgan Mortgage Trust 2005-A5, Mortgage Pass-Through Certificates, Series 2005-A5, Class 3-A-3
-- J.P. Morgan Mortgage Trust 2005-A5, Mortgage Pass-Through Certificates, Series 2005-A5, Class 3-A-4
-- J.P. Morgan Mortgage Trust 2005-A5, Mortgage Pass-Through Certificates, Series 2005-A5, Class 5-A-1
-- J.P. Morgan Mortgage Trust 2005-A5, Mortgage Pass-Through Certificates, Series 2005-A5, Class T-B-2
-- J.P. Morgan Mortgage Trust 2006-S1, Mortgage Pass-Through Certificates, Series 2006-S1, Class A-X
-- J.P. Morgan Mortgage Trust 2006-S1, Mortgage Pass-Through Certificates, Series 2006-S1, Class 1-A-1
-- J.P. Morgan Mortgage Trust 2006-S1, Mortgage Pass-Through Certificates, Series 2006-S1, Class 1-A-2
-- J.P. Morgan Mortgage Trust 2006-S1, Mortgage Pass-Through Certificates, Series 2006-S1, Class 3-A-6
-- J.P. Morgan Mortgage Trust 2006-S1, Mortgage Pass-Through Certificates, Series 2006-S1, Class 3-A-2
-- J.P. Morgan Mortgage Trust 2006-S1, Mortgage Pass-Through Certificates, Series 2006-S1, Class 3-A-8
-- J.P. Morgan Mortgage Trust 2006-S1, Mortgage Pass-Through Certificates, Series 2006-S1, Class 3-A-1
-- J.P. Morgan Mortgage Trust 2006-S1, Mortgage Pass-Through Certificates, Series 2006-S1, Class 2-A-3
-- J.P. Morgan Mortgage Trust 2006-S1, Mortgage Pass-Through Certificates, Series 2006-S1, Class 2-A-5
-- J.P. Morgan Mortgage Trust 2006-S1, Mortgage Pass-Through Certificates, Series 2006-S1, Class 2-A-8
-- J.P. Morgan Mortgage Trust 2006-S1, Mortgage Pass-Through Certificates, Series 2006-S1, Class 2-A-1
-- J.P. Morgan Mortgage Trust 2006-S1, Mortgage Pass-Through Certificates, Series 2006-S1, Class 2-A-9
-- Long Beach Mortgage Loan Trust 2005-3, Asset-Backed Certificates, Series 2005-3, Class I-A
-- MASTR Adjustable Rate Mortgages Trust 2005-2, Mortgage Pass-Through Certificates, Series 2005-2, Class 2-A-1
-- MASTR Adjustable Rate Mortgages Trust 2005-2, Mortgage Pass-Through Certificates, Series 2005-2, Class 3-A-1
-- MASTR Adjustable Rate Mortgages Trust 2005-2, Mortgage Pass-Through Certificates, Series 2005-2, Class 4-A-1
-- MASTR Adjustable Rate Mortgages Trust 2005-2, Mortgage Pass-Through Certificates, Series 2005-2, Class 5-A-1
-- MASTR Adjustable Rate Mortgages Trust 2005-2, Mortgage Pass-Through Certificates, Series 2005-2, Class 6-A-1
-- MASTR Adjustable Rate Mortgages Trust 2005-2, Mortgage Pass-Through Certificates, Series 2005-2, Class 7-A-1
-- MASTR Adjustable Rate Mortgages Trust 2005-2, Mortgage Pass-Through Certificates, Series 2005-2, Class 7-A-X
-- MASTR Adjustable Rate Mortgages Trust 2005-2, Mortgage Pass-Through Certificates, Series 2005-2, Class 7-A-2
-- Morgan Stanley Home Equity Loan Trust 2005-2, Mortgage Pass-Through Certificates, Series 2005-2, Class M-5
-- Lehman Mortgage Trust 2008-6, Mortgage Pass-Through Certificates, Series 2008-6, Class 2-A2

CORONAVIRUS DISEASE (COVID-19) IMPACT
The coronavirus pandemic and the resulting isolation measures caused an immediate economic contraction, leading to sharp increases in unemployment rates and income reductions for many consumers. DBRS Morningstar saw increases in delinquencies for many RMBS asset classes shortly after the onset of coronavirus.

Such mortgage delinquencies were mostly in the form of forbearances, which are generally short-term payment reliefs that may perform very differently from traditional delinquencies. Because the option to forbear mortgage payments was so widely available at the onset of the pandemic, it drove forbearances to a very high level. When the dust settled, coronavirus-induced forbearances in 2020 performed better than expected, thanks to government aid and good underwriting in the mortgage market in general. Across nearly all RMBS asset classes, delinquencies have been gradually trending down in recent months as the forbearance period comes to an end for many borrowers.

In connection with the economic stress assumed under its baseline scenario (see “Baseline Macroeconomic Scenarios for Rated Sovereigns: September 2022 Update,” published on September 19, 2022), DBRS Morningstar may assume higher loss expectations for pools with loans on forbearance plans.

The rating actions are the result of DBRS Morningstar’s application of its “U.S. RMBS Surveillance Methodology,” published on February 21, 2020.

ENVIRONMENTAL, SOCIAL, AND GOVERNANCE CONSIDERATIONS
There were no environmental, social, and governance factors that had a significant or relevant effect on the credit analysis.

A description of how DBRS Morningstar considers ESG factors within the DBRS Morningstar analytical framework can be found in the DBRS Morningstar Criteria: Approach to Environmental, Social, and Governance Risk Factors in Credit Ratings at https://www.dbrsmorningstar.com/research/396929 (May 17, 2022).

Notes:
The principal methodology is the U.S. RMBS Surveillance Methodology (February 21, 2020), which can be found on dbrsmorningstar.com under Methodologies & Criteria.

The DBRS Morningstar Sovereign group releases baseline macroeconomic scenarios for rated sovereigns. DBRS Morningstar analysis considered impacts consistent with the baseline scenarios as set forth in the following report: https://www.dbrsmorningstar.com/research/384482/baseline-macroeconomic-scenarios-application-to-credit-ratings.

The rated entity or its related entities did participate in the rating process for this rating action. DBRS Morningstar had access to the accounts and other relevant internal documents of the rated entity or its related entities in connection with this rating action.

For more information on these credits or on this industry, visit www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.

DBRS, Inc.
140 Broadway, 43rd Floor
New York, NY 10005 USA
Tel. +1 212 806-3277

Ratings

  • CWABS Asset-Backed Certificates Trust 2004-BC5

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Asset-Backed Certificates, Series 2004-BC5, Class M-5BBB (high) (sf)--Upgraded
    US
    27-Oct-22Asset-Backed Certificates, Series 2004-BC5, Class M-6BB (sf)--Upgraded
    US
    27-Oct-22Asset-Backed Certificates, Series 2004-BC5, Class M-7B (sf)--Upgraded
    US
    27-Oct-22Asset-Backed Certificates, Series 2004-BC5, Class BC (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2004-BC5, Class M-8C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2004-BC5, Class M-4Discontinued--Disc.-Repaid
    US
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  • CWABS Asset-Backed Certificates Trust 2006-SPS1

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Asset-Backed Certificates, Series 2006-SPS1, Class AC (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-SPS1, Class BC (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-SPS1, Class M-1C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-SPS1, Class M-2C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-SPS1, Class M-3C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-SPS1, Class M-4C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-SPS1, Class M-5C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-SPS1, Class M-6C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-SPS1, Class M-7C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-SPS1, Class M-8C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-SPS1, Class M-9C (sf)--Confirmed
    US
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  • DSLA Mortgage Loan Trust 2005-AR6

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005 AR6, Class 2A-1ABB (low) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005 AR6, Class 1A-1AC (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005 AR6, Class 2A-1BC (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005 AR6, Class 2A-1CC (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005 AR6, Class M-1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005 AR6, Class M-2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005 AR6, Class M-3C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005 AR6, Class M-4C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005 AR6, Class M-5C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005 AR6, Class M-6C (sf)--Confirmed
    US
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  • Encore Credit Receivables Trust 2005-4

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Asset-Backed Pass-Through Certificates, Series 2005-4, Class M-3AA (sf)--Upgraded
    US
    27-Oct-22Asset-Backed Pass-Through Certificates, Series 2005-4, Class M-4BB (high) (sf)--Upgraded
    US
    27-Oct-22Asset-Backed Pass-Through Certificates, Series 2005-4, Class M-10C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Pass-Through Certificates, Series 2005-4, Class M-11C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Pass-Through Certificates, Series 2005-4, Class M-12C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Pass-Through Certificates, Series 2005-4, Class M-5C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Pass-Through Certificates, Series 2005-4, Class M-6C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Pass-Through Certificates, Series 2005-4, Class M-7C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Pass-Through Certificates, Series 2005-4, Class M-8C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Pass-Through Certificates, Series 2005-4, Class M-9C (sf)--Confirmed
    US
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  • First Franklin Mortgage Loan Trust 2005-FF9

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-FF9, Class A4AA (high) (sf)--Upgraded
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-FF9, Class M1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-FF9, Class M2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-FF9, Class M3C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-FF9, Class M4C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-FF9, Class M5C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-FF9, Class M6C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-FF9, Class M7C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-FF9, Class M8C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-FF9, Class M9C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-FF9, Class A1Discontinued--Disc.-Repaid
    US
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  • First Franklin Mortgage Loan Trust 2006-FF8

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class I-A1AA (sf)--Upgraded
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class II-A4BB (sf)--Upgraded
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class M-1C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class M-10C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class M-11C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class M-12C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class M-2C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class M-3C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class M-4C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class M-5C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class M-6C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class M-7C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class M-8C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2006-FF8, Class M-9C (sf)--Confirmed
    US
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  • GSR Mortgage Loan Trust 2005-AR6

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-AR6, Class 1A1AA (sf)--Upgraded
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-AR6, Class 1A4AA (sf)--Upgraded
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-AR6, Class 1A2A (high) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-AR6, Class 2A1A (sf)--Upgraded
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-AR6, Class 3A1A (sf)--Upgraded
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-AR6, Class 4A1A (low) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-AR6, Class 2A2BBB (high) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-AR6, Class 3A2BBB (high) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-AR6, Class 4A2BBB (high) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-AR6, Class 4A5BBB (high) (sf)--Confirmed
    US
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  • J.P. Morgan Mortgage Trust 2005-A4

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A4, Class 1-A-1AA (low) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A4, Class 2-A-1A (low) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A4, Class 4-A-2A (low) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A4, Class B-1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A4, Class B-2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A4, Class B-3C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A4, Class B-4C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A4, Class B-5C (sf)--Confirmed
    US
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  • J.P. Morgan Mortgage Trust 2005-A5

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class 1-A-2BBB (low) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class 3-A-3BBB (low) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class 5-A-1BBB (low) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class 3-A-4BB (high) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class 2-A-2BB (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class 2-A-3BB (low) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class T-B-1BB (low) (sf)--Upgraded
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class T-A-1B (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class I-B-1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class I-B-2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class I-B-3C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class I-B-4C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class I-B-5C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class T-B-2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class T-B-3C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class T-B-4C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-A5, Class T-B-5C (sf)--Confirmed
    US
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  • J.P. Morgan Mortgage Trust 2006-S1

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class 3-A-1BBB (sf)--Upgraded
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class 2-A-1BB (high) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class 2-A-3BB (high) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class 2-A-5BB (high) (sf)--Upgraded
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class 1-A-1BB (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class 1-A-2BB (sf)--Upgraded
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class 2-A-8BB (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class 3-A-2BB (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class 3-A-6BB (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class 3-A-8BB (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class A-XBB (sf)--Upgraded
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class 2-A-9B (high) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class A-MC (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class A-PC (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class B-1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class B-2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class B-3C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class B-4C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class B-5C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-S1, Class 2-A-6Discontinued--Disc.-Repaid
    US
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  • Lehman Mortgage Trust 2008-6

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Mortgage Pass-Through Certificates, Series 2008-6, Class 2-A1AAA (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2008-6, Class 2-A2AA (low) (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2008-6, Class 1-A2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2008-6, Class 2-A3C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2008-6, Class B1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2008-6, Class B2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2008-6, Class B3C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2008-6, Class B4C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2008-6, Class B5C (sf)--Confirmed
    US
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  • Lehman XS Trust 2006-5

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class 1-A1AC (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class 1-A1BC (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class 2-A1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class 2-A2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class 2-A3C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class 2-A4AC (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class 2-A4BC (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class M1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class M10C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class M2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class M3C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class M4C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class M5C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class M6C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class M7C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class M8C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2006-5, Class M9C (sf)--Confirmed
    US
    More
    Less

  • Long Beach Mortgage Loan Trust 2005-3

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Asset-Backed Certificates, Series 2005-3, Class I-AC (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2005-3, Class M-1C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2005-3, Class M-2C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2005-3, Class M-3C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2005-3, Class M-4C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2005-3, Class M-5C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2005-3, Class M-6C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2005-3, Class M-7C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2005-3, Class M-8C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2005-3, Class M-9C (sf)--Confirmed
    US
    27-Oct-22Asset-Backed Certificates, Series 2005-3, Class II-A3Discontinued--Disc.-Repaid
    US
    More
    Less

  • MASTR Adjustable Rate Mortgages Trust 2005-2

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class 5-A-1BB (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class 2-A-1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class 3-A-1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class 4-A-1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class 6-A-1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class 7-A-1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class 7-A-2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class 7-A-XC (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class B-1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class B-2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class B-3C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class B-4C (sf)--Confirmed
    US
    More
    Less

  • Morgan Stanley Home Equity Loan Trust 2005-2

    Date IssuedDebt RatedRatingTrendActionAttributesi
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class M-5BBB (sf)--Upgraded
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class B-1C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class B-2C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class B-3C (sf)--Confirmed
    US
    27-Oct-22Mortgage Pass-Through Certificates, Series 2005-2, Class M-6C (sf)--Confirmed
    US
    More
    Less
CWABS Asset-Backed Certificates Trust 2004-BC5
CWABS Asset-Backed Certificates Trust 2006-SPS1
DSLA Mortgage Loan Trust 2005-AR6
Encore Credit Receivables Trust 2005-4
First Franklin Mortgage Loan Trust 2005-FF9
First Franklin Mortgage Loan Trust 2006-FF8
GSR Mortgage Loan Trust 2005-AR6
J.P. Morgan Mortgage Trust 2005-A4
J.P. Morgan Mortgage Trust 2005-A5
J.P. Morgan Mortgage Trust 2006-S1
Lehman Mortgage Trust 2008-6
Lehman XS Trust 2006-5
Long Beach Mortgage Loan Trust 2005-3
MASTR Adjustable Rate Mortgages Trust 2005-2
Morgan Stanley Home Equity Loan Trust 2005-2
  • 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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