Correction: Fitch Affirms 16 Classes From 1 Accredited Home Lenders RMBS Securitization.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 press release issued earlier today containing revised rating information for the series 2004-3 groups II & III.) 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 all classes of the following Accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. Home Lenders, Inc. RMBS RMBS Residential Mortgage-Backed Securities RMBS Rambus, Inc. (NASDAQ stock symbol) RMBS Russian Mortgage-Backed Securities transaction: Series 2004-3 Group I -- Class A at 'AAA'; -- Class 1M1 at 'AA'; -- Class 1M2 at 'A+'; -- Class 1M3 at 'BBB+'; -- Class 1M4 at 'BBB'; -- Class 1B at 'BBB-'. Series 2004-3 Groups II & III -- Classes 2A1, 2A2, 2A4, and 2A5 'AAA'; -- Class 2A6 at 'AA+'; -- Class 2M1 at 'AA+'; -- Class 2M2 at 'AA'; -- Class 2M3 at 'A+'; -- Class 2M4 at 'A'; -- Class 2M5 at 'A-'; -- Class 2M6 at 'BBB+'; -- Class 2M7 at 'BBB'; -- Class 2B at 'BBB-'. The affirmations are due to 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 consistent with future loss expectations and affects approximately $602 million in outstanding certificates. The affirmations are a result of limited seasoning and overcollateralization amounts being on target. The notes represent obligations of the trust and are secured by 15- and 30-year fixed-rate (Group I) and adjustable-rate (Groups II & III) mortgages which consist of conventional, first lien, fully amortizing, interest only and balloon, mortgage loans on residential properties extended to sub-prime borrowers. The servicer for the transaction is Accredited Home Lenders, Inc. which is rating 'RPS3' by Fitch. The pool factor (current collateral balance as a percentage of the initial collateral balance) is approximately 61.19%, and is 17 months seasoned. The amount of cumulative losses to date is approximately seven basis points of the initial balance. For further information regarding this transaction please visit the Fitch Ratings website 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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