CWABS, Inc. Asset-Backed Ctfs Series 2002-BC1 Rated By Fitch Ratings.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 11, 2002 CWABS, Inc.'s $472.5 million asset-backed certificates, series 2002-BC1, classes A, A-IO and A-R are rated 'AAA' 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. . The 'AAA' rating on the A, A-IO, and A-R senior certificates reflects the 5.50% subordination provided by the 1.75% class M-1, the 1.25% class M-2, and the 2.50% non-offered class B certificates. The mortgage loans consist of 3,571 fixed-rate and adjustable-rate loans secured by first lien loans on one-to-four family residential properties. Fitch Rating's analysis is based on the Jan. 1, 2002 static calculation mortgage pool of $502.5 million. Weighted average FICO FICO See: Financing corporation of the pool is 618 with 4.77% and 86.02% of the loans possessing FICO Scores greater than 720 and less than or equal to 660, respectively. 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. (OLTV OLTV Original Loan-to-Value ratio OLTV on Line Television ) of the pool is approximately 81% with 51.64% of the loans having an OLTV in excess of 80%. The weighted average coupon Weighted average Coupon The weighted average of the gross interest rates of mortgages underlying a pool as of the pool issue date; the balance of each mortgage is used as the weighting factor. of the loans is 8.592% and the weighted average remaining term is 348 months. |
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