Fitch Affirms 5 & Places 1 Class on RWN from CWMBS --Countrywide-- Securitization, Ser 2003-41.NEW YORK -- Fitch Ratings has taken rating actions on the following CWMBS (Countrywide Home Loans), Inc. residential mortgage-backed certificates: CWMBS (Countrywide Home Loans, Inc.) mortgage pass-through certificates, series 2003-41 -- 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 rated 'B,' placed on Rating Watch Negative. The affirmations reflect credit enhancement consistent with future loss expectations and affect $144,653,910 of outstanding certificates. The negative rating action on class B4 affects $297,410.95 of outstanding certificates. Class B4 has been placed on Rating Watch Negative as a result of the 0.93% remaining loans in 90+ delinquency as of the August 25th remittance period, whereas the current credit enhancement of the class is only 0.27% (originally 0.20%). There have been no losses to the pool to date, however the mortgage pool is only 10 months seasoned. The collateral consists of conventional, fully amortizing, 20 to 30-year fixed-rate mortgage loans, secured by first liens on one-to four- family residential properties. Fitch will continue to closely monitor this deal. Further information regarding current delinquency, loss and credit enhancement statistics is available on the Fitch Ratings web site at 'www.fitchratings.com.' |
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