CDMC Mortgage-Backed P-T Ctfs Ser 2000-8 Rated By Fitch.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 31, 2000 CDMC CDMC Centre de Documentation de la Musique Contemporaine (French: Contemporary Music Documentation Center) CDMC Children's Digital Media Center CDMC Contemporary Music Documentation Center CDMC CINDI Trust's series 2000-8 residential mortgage pass-through certificates are rated by Fitch as follows: -- $216,357,073 class A-1 through A-5, P, X, R, `AAA'; -- $4,732,800 class B-1, `AA'; -- $1,690,300 class B-2, `A'; -- $1,014,100 class B-3, `BBB'. 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 for the senior certificates reflects the 4.00% subordination provided by the underlying class B certificates. The rating on class B-1 reflects the 1.90% subordination provided by classes B-2 through B-6. The rating on class B-2 reflects the 1.15% subordination provided by classes B-3 through B-6. The rating on class B-3 reflects the 0.70% subordination provided by classes B-4 through B-6. Classes B-4 through B-6 are not being publicly offered. The ratings also reflect the quality of the underlying collateral, the capabilities of Cendant as servicer, and Fitch's confidence in the integrity of the legal and financial structure of the transaction. The collateral consists of recently originated, conventional, 30-year fixed-rate, fully amortizing, first lien, one- to four- family residential mortgage loans. The weighted average original loan-to-value ratio Loan-to-value ratio (LTV) The ratio of money borrowed on a property to the property's fair market value. (LTV LTV See: Loan-to-value ratio ) for the mortgage loans in the pool is approximately 76.98%. The outstanding average balance of the mortgage loans is $355,476. The weighted average remaining term of the loans is 358 months and the weighted average mortgage rate of the loans is 8.279%. The three states that represent the largest portion of mortgage loans are California (34.98%), New Jersey (11.10%), and New York (7.98%). CDMC mortgage backed pass-through certificates, series 2000-8 was issued pursuant to a pooling and servicing agreement dated as of Oct. 1, 2000, among SAMI Sami: see Lapland. Sami or Lapp Any of the descendants of ancient nomadic peoples who inhabited northern Scandinavia. They may be Paleo-Siberian or alpine peoples from central Europe. , as seller; Cendant Mortgage Corporation, as servicer; and The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , as trustee. Fitch is an international rating agency that provides global capital market investors with the highest quality ratings and research. Dual headquartered in New York and London with a major office in Chicago, Fitch rates entities in 75 countries and has some 1,100 employees in more than 40 local offices worldwide. The agency, which is a combination of Fitch IBCA IBCA International Braille Chess Association IBCA Institute of Burial and Cremation Administration IBCA Integrated Business Communications Alliance IBCA International Barbeque Cookers Association IBCA Department of Interior Board of Contract Appeals and Duff & Phelps Credit Rating Co., provides ratings for Financial Institutions, Insurance, Corporates, Structured Finance, Sovereigns and Public Finance markets worldwide. |
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