Fitch Affirms 13 Classes from 3 Chase Mortgage Finance Trust Issues.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 taken rating actions on the following Chase Mortgage Finance Trust issues: Series 2004-S1 -- Class A affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. at 'AAA'. Series 2004-S3 -- Class A affirmed at 'AAA'; -- Class M affirmed at 'AA'; -- Class B1 affirmed at 'A'; -- Class B2 affirmed at 'BBB'; -- Class B3 affirmed at 'BB'; -- Class B4 affirmed at 'B'. Series 2004-S4 -- Class A affirmed at 'AAA'; -- Class M affirmed at 'AA'; -- Class B1 affirmed at 'A'; -- Class B2 affirmed at 'BBB'; -- Class B3 affirmed at 'BB'; -- Class B4 affirmed at 'B'. All of the mortgage loans in the aforementioned transactions were either originated or acquired by Chase Manhattan Mortgage Corporation. The mortgage loans consist of 15- and 30-year fixed-rate mortgages secured by first liens on one- to four-family residential properties. Chase Home Finance, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , rated 'RPS1' for prime products by Fitch, is the servicer for all of the mortgage loans. The affirmations reflect a satisfactory 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 (CE) and future loss expectations and affect approximately $740.5 million of outstanding certificates. All classes in the transactions detailed above have experienced small to moderate growth in CE since closing, and there have been no collateral losses to date. As of the December 2005 distribution date, the transactions are seasoned from a range of 20 to 23 months, and the pool factors (current mortgage loan principal outstanding as a percentage of the initial pool) range from approximately 66% (series 2004-S3) to 73% (series 2004-S4). Fitch will continue to closely monitor these transactions. Further information regarding current delinquency, loss, and credit enhancement 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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