Fitch Affirms 40 RMBS Ratings from 14 MASTR, Inc. Securitizations.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 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. the following Mortgage Asset Securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. Transactions (MASTR MASTR Multiple Assets Status Report MASTR Mobiles And Stations Transistorized (General Electric radio manufactured in 1960s and 1970s) ), Inc. residential mortgage-backed certificates: Series 2003-6 Total Pools 1, 2, & 5 thru 9 -- Class A at 'AAA'; -- Class 30-B-2 at 'AA'; -- Class 30-B-4 at 'BBB'; -- Class 30-B-5 at 'BB'. Series 2003-6 Total Pools 3 & 4 -- Class A at 'AAA'; -- Class 15-B-2 at 'AA-'; -- Class 15-B-5 at 'B+'. Series 2003-7 -- Class A at 'AAA'. Series 2003-9 -- Class A at 'AAA'; -- Class B-3 at 'A-'. Series 2004-4 Pool 1 -- Class A at 'AAA'. Series 2004-4 Total Pools 2 & 3 -- Class A at 'AAA'; -- Class B-1 at 'AA'; -- Class B-2 at 'A'; -- Class B-3 at 'BBB'; -- Class B-4 at 'BB'. Series 2004-6 Pool 1 -- Class A at 'AAA'; -- Class I-B-3 at 'BBB'. Series 2004-6 Total Pools 2 thru 7 -- Class A at 'AAA'; -- Class B-1 at 'AA'; -- Class B-3 at 'BBB'. Series 2004-8 Total Pools 1, 2, & 3 -- Class A at 'AAA'. Series 2004-9 Total Pools 1, 5, 6, & 7 -- Class A at 'AAA'. Series 2004-9 Total Pools 2 & 4 -- Class A at 'AAA'; -- Class 30-B-1 at 'AA'; -- Class 30-B-2 at 'A'; -- Class 30-B-3 at 'BBB'; -- Class 30-B-4 at 'BB'. Series 2004-9 Pool 3 -- Class A at 'AAA'. Series 2004-10 -- Class A at 'AAA' -- Class B-1 at 'AA'; -- Class B-2 at 'A'; -- Class B-3 at 'BBB'; -- Class B-4 at 'BB'. Series 2004-11 -- Class A at 'AAA' -- Class B-1 at 'AA'; -- Class B-2 at 'A'; -- Class B-3 at 'BBB'; -- Class B-4 at 'BB'; -- Class B-5 at 'B'. The affirmations, affecting approximately $3.8 billion of the outstanding certificates, 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 (CE) and expected loss. In addition, all of the above transactions have experienced growth in CE and have suffered no losses to date. The collateral of the above transactions consists of conventional, fully amortizing, jumbo-prime, 10-year to 30-year fixed-rate mortgage loans secured by first liens on one- to four-family residential properties and, in some cases, certificates from previous MASTR deals. MASTR 2004-4 Pool 1, is backed by three certificates: MASTR 2003-10 class 3-A-1, which Fitch does not rate, and MASTR 2003-11 classes 1-A-1 and 2-A-1, both of which Fitch rates 'AAA'. MASTR 2004-6 Pool 2, is backed by a pool of 30-year, fixed-rate mortgage loans and MASTR 2003-8 class 1-A-1, which Fitch rates 'AAA.' MASTR 2003-9 Pool 3, is backed by MASTR 2004-6 class 7-A-1, which Fitch rates 'AAA.' The loans collateralizing the MASTR transactions were acquired by UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System from various originators and are master serviced by Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank Minnesota, N.A., which is rated 'RMS1' by Fitch. As of the December 2006 distribution date, the pool factors (current mortgage loan principal outstanding as a percentage of the initial pool) range from 41% (2003-6 Total Pools 3 & 4) to 79% (2004-6 Pool 1). In addition, the transactions are seasoned from 25 months (2004-11) to 42 months (2003-6). Further information regarding current delinquency delinquency Criminal behaviour carried out by a juvenile. Young males make up the bulk of the delinquent population (about 80% in the U.S.) in all countries in which the behaviour is reported. , 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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