Citigroup's $277.3MM A-B P-T Ctfs, Series 2006-SHL1, Rated By Fitch.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 -- Citigroup Mortgage Loan Trust Inc., asset-backed pass-through certificates, series 2006-SHL1 is 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: --$221,343,000 class A 'AAA'; --$21,032,000 class M-1 'AA+'; --$17,261,000 class M-2 'AA'; --$5,512,000 class M-3 'A+'; --$4,932,000 class M-4 'A'; --$3,771,000 class M-5 'A-'; and --$3,481,000 class M-6 'BBB+'. The 'AAA' rating on the class A certificates reflects the 23.70% credit enhancement (CE) provided by the 7.25% class M-1, the 5.95% class M-2, the 1.90% class M-3, the 1.70% class M-4, 1.30% class M-5, 1.20% class M-6 and target overcollateralization (OC) of 4.40%. The ratings on the certificates reflect the quality of the underlying collateral and Fitch's level of confidence in the integrity of the legal and financial structure of the transaction. The mortgage pool consists primarily of first and second liens on adjustable and fixed rate, one- to four-family, fully amortizing and balloon, residential mortgage loans with an aggregate principal balance of $290,097,030. As of the cut-off date of Oct. 1, 2006, the mortgage loans had a weighted average loan-to-value ratio (LTV LTV See: Loan-to-value ratio ) of 74.20%, 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. (WAC WAC (Women's Army Corps), U.S. army organization created (1942) during World War II to enlist women as auxiliaries for noncombatant duty in the U.S. army. Before 1943 it was known as the Women's Auxiliary Army Corps (WAAC). Its first director was Oveta Culp Hobby. ) of 7.822%, weighted average remaining term (WAM WAM - Intermediate language for compiled Prolog, used by the Warren Abstract Machine. "An Abstract Prolog Instruction Set", D.H.D. Warren, TR 309, SRI 1983. ) of 316 months and an average principal balance of $132,768. Single-family properties account for approximately 74.72% of the mortgage pool, two- to four-family properties 7.91%, and condos 5.50%; 93.23% of the properties are owner occupied. The three largest state concentrations are California (21.70%), Florida (14.17%), New York (9.93%), Texas (7.82%) and New Jersey (6.28%). None of the mortgage loans are 'high cost' loans as defined under any local, state or federal laws. For additional information on Fitch's rating criteria regarding predatory lending legislation, please see the press releases issued May 1, 2003 entitled 'Fitch Revises Rating Criteria in Wake of Predatory Lending Legislation,' and Feb. 23, 2005 entitled, 'Fitch Revises RMBS RMBS Residential Mortgage-Backed Securities RMBS Rambus, Inc. (NASDAQ stock symbol) RMBS Russian Mortgage-Backed Securities Guidelines for Antipredatory Lending Laws', available on the Fitch Ratings web site at www.fitchratings.com. Citigroup Mortgage Loan Trust Inc. deposited the loans into the trust, which issued the certificates, representing beneficial ownership in the trust. For federal income tax purposes, the Trust Fund will consist of multiple real estate mortgage investment conduits (REMICs). Wells Fargo Bank, N.A. will act as trustee. Litton Loan Servicing LP (rated 'RPS1' by Fitch) is the servicer for this transaction. 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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