Fitch Rates $143.7MM RFMSI Mtge Trust Ctfs Series 2004-SR1.Business Editors NEW YORK--(BUSINESS WIRE)--May 27, 2004 Fitch rates Residential Funding Mortgage Securities I, Inc.'s (RFMSI) $143,773,665 mortgage trust certificates, series 2004-SR1 classes A-1 through A-5, and R certificates (senior certificates) 'AAA'. The assets RMSI RMSI Regional Maritime Security Initiative (US Pacific Command) 2004-SR1 consists of a percentage of RFMSI mortgage pass-through certificates Pass-Through Certificates (PTCs) are instruments that evidence the ownership of two or more Equipment Trust Certificates. In other words, Equipment Trust Certificates may be bundled into a pass-through structure as a means of diversifying the asset pool and/or increasing the size , series 2003-S17, class A-5 certificates (the underlying certificates). The underlying certificates represent senior ownership interests in the underlying trust, which is collateralized by fixed-rate, 30-year, conventional mortgage loans. The underlying certificates are rated 'AAA' by Fitch. The trustee will make monthly distributions on the offered certificates from amounts received from the underlying certificates. Realized losses allocated to the underlying certificates will be allocated to the offered certificates on a pro rata [Latin, Proportionately.] A phrase that describes a division made according to a certain rate, percentage, or share. In a Bankruptcy case, when the debtor is insolvent, creditors generally agree to accept a pro rata share of what is owed to them. basis. For federal income tax purposes, elections will be made to treat the trust as one or more real estate mortgage investment conduits Real Estate Mortgage Investment Conduit (REMIC) A pass-through tax entity that can hold mortgages secured by any type of real property and can issue multiple classes of ownership interests to investors in the form of pass-through certificates, bonds, or other legal forms. (REMICS). JPMorgan Chase JPMorgan Chase (NYSE: JPM TYO: 8634 ) is one of the oldest financial services firms in the world. The company, headquartered in New York City, is one of the leaders in investment banking, financial services, asset and wealth management and private equity. With assets of $1. Bank will act as trustee. |
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