Fitch Affirms $170.1MM from GS Mortgage Securities GSAA Alt-A Transaction.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 -- 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. affirms GSAA GSAA Gwathmey Siegel Associates Architects 2005-5 mortgage pass-through certificates as follows: GSAA 2005-5 --Class A at 'AAA'; --Class M-1 at 'AA+'; --Class M-2 at 'AA'; --Class M-3 at 'A'; --Class M-4 at 'A-'; --Class B-1 at 'BBB+'; --Class B-2 at 'BBB'; --Class B-3 at 'BBB-'. The affirmations reflect a satisfactory relationship between credit enhancement (CE) and future loss expectations and affect approximately $170.1 million of outstanding as certificates as of the August 2007 distribution date. The mortgage loans consist of adjustable rate mortgages secured by first liens. This transaction is 28 months seasoned and the pool factor (current mortgage loan principal outstanding as a percentage of the initial pool) is approximately 25%. The 60+ delinquencies are 12.41% of current collateral balance. This includes foreclosures of 2.68% and real estate owned Real Estate Owned Property owned by a lender - usually a bank - after an unsuccessful sale at a foreclosure auction. This is common because most of the properties up for sale at these auctions are worth less than the total amount owed to the bank: the minimum bid in most of 4.37%, respectively. The overcollateralization (OC) is at its target of $3,142,458. The cumulative loss on this transaction is 0.30% of original collateral balance. Further information regarding current delinquency, loss, and credit enhancement statistics is available on 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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