Correction: Fitch Affirms 13 RMBS Classes from 3 TMTS Issues.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 an amended version of a release issued earlier today and contains revised rating information on series 2005-16HE class M-3B.) 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. has affirmed the following classes of Terwin Mortgage Trust (TMTS TMTS Too Much Too Soon TMTS Telemedicine Telesurgery TMTS Technology, Media and Telecommunications Summit (Reuters) TMTS Telecommunication Message Traffic Services TMTS Transaction Monitor Tool Set ) issues: Series 2005-8HE --Class A 'AAA'; --Class M-1 'AA+'. Series 2005-14HE --Class A 'AAA'; --Class M-1 'AA+'; --Class M-2 'AA'; --Class M-3 'AA-'. Series 2005-16HE --Class A 'AAA'; --Class M-1A 'AA+'; --Class M-1B 'AA+'; --Class M-2A 'AA'; --Class M-2B 'AA'; --Class M-3A 'AA-'; --Class M-3B 'AA-'. The mortgage loans consist of fixed- and adjustable-rate mortgages secured by first-lien residential properties, all extended to sub-prime borrowers. The mortgage loans have various originators and are serviced by Specialized Loan Servicing, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , rated'RPS3' by Fitch. The affirmations reflect a satisfactory relationship between 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 (CE) and future expected losses and affect approximately $732.36 million in outstanding certificates. As of the January 2007 distribution date, the transactions are seasoned between 15 months (series 2005-16HE) and 19 months (series 2005-8HE) and have pool factors (current collateral balance as a percentage of initial collateral balance) ranging from approximately 49% (series 2005-8HE) to 65% (series 2005-16HE). The cumulative losses as a percentage of the original balance range from 0.09% (series 2005-14HE) to 0.14% (series 2005-16HE). The overcollateralization amount is at target for all deals. Further information regarding current delinquency, loss and credit enhancement statistics is available on the Fitch Ratings web site at www.fitchratings.com. 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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