Fitch Affirms 1 Class from Banc of America Funding Corp. 2003-3 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 -- 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 rating on the following Banc of America Funding Corporation (BAFC BAFC British Airways Flying Club (UK) BAFC Barrow Associated Football Club ), mortgage pass-through certificates: Banc of America Funding Corporation, mortgage pass-through certificates, series 2003-3 -- Class A affirmed at 'AAA'. The affirmation, affecting approximately $468.9 million in remaining principal, reflects the more than adequate relationship of CE to expected losses. The above deal has suffered no losses since the initial rating. The trust is comprised of conventional, fixed-rate mortgage loans that are secured by first liens on one- to two-family residential properties. BAFC, a special purpose corporation, purchased the mortgage loans from Washington Mutual Mortgage Securities Corp., which acquired the loans from SunTrust Mortgage, Inc.; LoanCity.com, Wachovia Bank, N.A.; and SIB Mortgage Corp. The master servicer for these loans is Washington Mutual Mortgage Securities Corp. (WMMSC), rated 'RMS2+' by Fitch. Further information regarding current delinquency, loss and 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 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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