CWMBS, Inc. $594.9MM Mortgage P-T Ctfs Ser 2000-6 Rtd By Fitch.

Business Editors

NEW YORK--(BUSINESS WIRE)--Nov. 1, 2000

CWMBS, Inc.'s (CWMBS) $575.4 million mortgage pass-through certificates, Countrywide Home Loans, Inc. (CHL) mortgage pass-through trust 2000-6, classes A-1 through A-33, PO, X and A-R (senior certificates) are rated 'AAA' by Fitch. Additionally, the $10.8 million class M certificates are rated 'AA', $5.7 million class B-1 certificates are rated 'A', and $3.0 million class B-2 certificates are rated 'BBB'.

The 'AAA' rating on the senior certificates reflects the 4.25% subordination provided by the 1.80% class M, the 0.95% class B-1, the 0.50% class B-2, and the 1.00% privately offered classes B-3 through B-5 certificates. Classes M, B-1 and B-2 are rated `AA', `A', and `BBB' based on their respective subordination. Fitch believes the above credit enhancement will be adequate to support mortgagor defaults as well as bankruptcy, fraud and special hazard losses in limited amounts. In addition, the ratings also reflect the quality of the underlying mortgage collateral, strength of the legal and financial structures and CHL's servicing capabilities as master servicer.

The collateral consists of conventional, fully amortizing, 20- to 30-year fixed-rate, mortgage loans secured by first liens on one- to four-family residential properties. The mortgage pool demonstrates a weighted average original loan-to-value ratio (OLTV) of 75.62%. Loans originated under the Reduced Documentation Program account for approximately 20.51% of the pool, cash-out refinance loans 10.90%, and second homes 2.85%. The average loan balance is $297,625. The three states that represent the largest portion of mortgage loans are California (44.92%), Colorado (5.43%) and Florida (3.00%).

Approximately 65.30% and 34.70% of the mortgage loans were originated under CHL's Standard Underwriting Guidelines and Expanded Underwriting Guidelines, respectively. Mortgage loans underwritten pursuant to the Expanded Underwriting Guidelines may have higher loan-to-value ratios, higher loans amounts and different documentation requirements than those associated with the Standard Underwriting Guidelines. In analyzing the collateral pool, Fitch adjusted its frequency of foreclosure and loss assumptions to account for the presence of these attributes.

CWMBS deposited the loans in the trust, which issued the certificates, representing undivided beneficial ownership in the trust. For federal income tax purposes, an election will be made to treat the trust fund as two real estate mortgage investment conduits (REMICs).

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 and Duff & Phelps Credit Rating Co., provides ratings for Financial Institutions, Insurance, Corporates, Structured Finance, Sovereigns and Public Finance markets worldwide.