Fitch Affirms 1 RMBS Class from Citigroup Mortgage Loan Trust 2004-1.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 following rating on Citigroup Mortgage Loan Trust, series 2004-1: --Class A at 'AAA'. The mortgage loans consist of fixed-rate seasoned loans, extended to prime borrowers and are secured by first liens, primarily on one- to four-family residential properties. As of the July 2006 distribution date, the transaction is seasoned 27 months and the pool factor (current mortgage loan principal outstanding as a percentage of the initial pool) is approximately 31.7%. All of the loans are master serviced by Wells Fargo Bank, N.A., Inc. which is rated 'RMS1' by Fitch. The affirmations reflect a stable 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 and future loss expectations and affect approximately $39.885 million of outstanding certificates. To date, the trust has not suffered any realized loss Realized Loss A loss recognized when assets are sold for a price lower than the original purchase price. Notes: A portion of the realized loss may be applied against a capital gain or realized profit to reduce taxes. , and there are currently only two loans in foreclosure, comprising approximately 90bps of the aggregate remaining balance. Fitch will continue to closely monitor this transaction. 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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