Amend: Fitch Rates Fremont Home Loan Trust 2006-E.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- This is a correction for a previous message issued on Dec. 6, 2006. It amends several of the amounts in the ratings list. Fremont Home Loan Trust issues Mortgage-Backed Certificates, Series 2006-E, are rated by Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. as follows: -- $983.81 million Class 1A1, 2A1, 2A2, 2A3 and 2A4 'AAA', -- $60.32 million Class M-1 'AA+', -- $61.60 million Class M-2 'AA', -- $20.53 million Class M-3 'AA', -- $30.16 million Class M-4 'AA-', -- $22.46 million Class M-5 'A+', -- $16.04 million Class M-6 'A', -- $16.04 million Classes M-7 'A-', -- $11.56 million Class M-8 'BBB+', -- $18.61 million Class M-9 'BBB', -- $22.46 million Class M-10 'BBB-'. The mortgage loans consist of fixed and adjustable rate Adjustable rate Applies mainly to convertible securities. Refers to interest rate or dividend that is adjusted periodically, usually according to a standard market rate outside the control of the bank or savings institution, such as that prevailing on Treasury bonds or notes. sub-prime mortgage loans secured by first or second lien A Second lien financing is a form of financing secured on a second ranking basis by (more or less) the same security, which secures the first ranking financing. The first lien lenders and the second lien lenders agree that, in the event of a security enforcement or bankruptcy, the mortgages or deeds of trust on residential properties. The 'AAA' rating on the senior certificates reflects the 24.80% credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing provided by the 4.70% class M-1, 4.80% class M-2, 1.60% class M-3, 2.35% class M-4, 1.75% class M-5, 1.25% class M-6, 1.35% class M-7, 0.90% class M-8, 1.45% class M-9, 1.65% class M-10, as well as 3.00% target over-collateralization (OC). The ratings also reflect the quality of the mortgage collateral, strength of the legal and financial structures, and Fremont Investment and Loan's servicing capabilities. As of the cut-off date, the mortgage loans in have an aggregate balance of $1,308,254,084. The weighted average mortgage rate is approximately 8.429% and the weighted average remaining term to maturity is 357 months. The average cut-off date principal balance of the mortgage loans is $261,024. The weighted average original loan-to-value is 82.18%. The properties are primarily located in California (25.29%), Florida (15.23%), New York (10.77%) and Maryland (6.93%). Located in Brea, California Brea is a city in Orange County, California, United States. The population, as of 2007 is 39,560. The city began as a center of crude oil production, was later propelled by citrus production, and is now an important retail center because of the large Brea Mall and the , Fremont is a state-chartered industrial bank. Fremont conducts business in 45 states and its primary source of origination is through licensed mortgage brokers. Fremont Investment and Loan currently operates five wholesale residential real estate loan production offices. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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