Fitch Affirms 48 Classes from 3 C-BASS RMBS 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 all classes from the following three Credit-Based Asset Servicing and Securitization LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (C-BASS C-BASS Credit-Based Asset Servicing and Securitization ) issues: Series 2005-CB1 -- Classes AF-1, AF-2, AF-3, AF-4, AV-1, AV-2, and AV-3 at 'AAA'; -- Class M-1 at 'AA'; -- Class M-2 at 'A'; -- Class M-3 at 'A-'; -- Class B-1 at 'BBB+'; -- Class B-2 at 'BBB'; -- Class B-3 at 'BBB-'; -- Class B-4 at 'BB+'; -- Class B-5 at 'BB'. Series 2005-CB2 -- Classes AF-1, AF-2, AF-3, AF-4, AV-1 and AV-2 affirmed at 'AAA'; -- Class M-1 at 'AA'; -- Class M-2 at 'A'; -- Class M-3 at 'A-'; -- Class B-1 at 'BBB+'; -- Class B-2 at 'BBB'; -- Class B-3 at 'BBB-'; -- Class B-4 at 'BB+'; -- Class B-5 at 'BB'. Series 2005-CB3 -- Classes AF-1A, AF-1B, AF-1C, AF-2, AF-3, AF-4, AV-1, AV-2 and AV-3 at 'AAA'; -- Class M-1 at 'AA+'; -- Class M-2 at 'AA-'; -- Class M-3 at 'A+'; -- Class M-4 at 'A'; -- Class B-1 at 'A-'; -- Class B-2 at 'BBB+'; -- Class B-3 at 'BBB+'; -- Class B-4 at 'BBB'; -- Class B-5 at 'BB+'; -- Class B-6 at 'BB'. The mortgage loans for the above transactions consist of fixed- and adjustable-rate conforming and non-conforming mortgage loans that are secured by first or second liens on mortgaged properties. Each of the transactions have small percentages (less than 2%) of FHA See Federal Housing Administration. FHA See Federal Housing Administration (FHA). insured and VA guaranteed mortgage loans. The mortgage loans were acquired by C-BASS from various entities. 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 $695.6 million of outstanding certificates. All of the above transactions are being serviced by Litton Loan Servicing LP, which is rated 'RPS1' by Fitch. 'RPS1' is the highest servicer rating available by Fitch. 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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