Fitch Affirms 1 Class from J.P. Morgan Alternative Loan Trust 2005-S1.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 has affirmed the rating of J.P. Morgan Alternative Loan Trust Mortgage pass-through certificates Pass-Through Certificates (PTCs) are instruments that evidence the ownership of two or more Equipment Trust Certificates. In other words, Equipment Trust Certificates may be bundled into a pass-through structure as a means of diversifying the asset pool and/or increasing the size , series 2005-S1 as follows: --Class A affirmed at 'AAA'. Fitch rated only the senior-most A classes at 'AAA'. The mortgage loans consist of fixed rate, fully amortizing, and first lien residential mortgage loans. The mortgage loans were originated or acquired by J.P. Morgan Chase Bank, National Association, PHH PHH Provinciale Handelsschool Hasselt (school) PHH Pasukan Anti Huru-Hara (Anti Riot Task Force) PHH Phillips Head (screw) PHH Planar Halogenated Hydrocarbon Mortgage Corporation, GreenPoint Mortgage Funding, Inc., and SunTrust Mortgage, Inc. J.P. Morgan Acceptance Corporation I, a special purpose corporation, deposited the loans in the trust which issued the certificates. The affirmations reflect adequate relationships of 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) to future loss expectations and affect approximately $931 million of outstanding certificates. As of the March 2007 remittance period, the trust is seasoned 15 months and has a pool factor (as a percentage of the original balance) of 79%. The mortgage loans are being serviced by JPMorgan Chase Bank, National Association (rated 'RPS1' by Fitch), PHH Mortgage Corporation (rated 'RPS1' by Fitch) and SunTrust Mortgage, Inc. (rated 'RPS2' by Fitch). 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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