Fitch Rates $539.2MM GSC Alternative Loan Trust, Series 2006-2.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 rates GSC GSC gas-solid chromatography. Alternative Loan Trust, Series 2006-2 asset-backed notes as follows: -- $504.27 million classes A-1 and A-2 'AAA' -- $8.13 million class M-1 'AA+'; -- $6.50 million class M-2 'AA+'; -- $4.06 million class M-3 'AA'; -- $2.71 million class M-4 'AA-'; -- $2.71 million class M-5 'A+'; -- $2.71 million class M-6 'A'; -- $2.71 million class M-7 'A-'; -- $2.71 million class M-8 'BBB+'; -- $2.71 million class B-1 'BBB'; 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 for the 'AAA' rated class A certificates reflects the 6.95% credit enhancement provided by the M-1 through M-8, and B-1 certificates, monthly excess interest and initial over collateralization In medicine, collateralization, also vessel collaterlization and blood vessel collateralization, is the growth of a blood vessel or several blood vessels that serve the same end organ or vascular bed as another blood vessel that cannot adequately supply that end organ (OC) of 0.50%. Credit enhancement for the 'AA+' rated class M-1 certificate reflects the 5.45% credit enhancement provided by the M-2 through M-8, and B-1 certificates, monthly excess interest and initial OC. Credit enhancement for the 'AA+' rated class M-2 certificate reflects the 4.25% credit enhancement provided by the M-3 through M-8, and B-1 certificates, monthly excess interest and initial OC. Credit enhancement for the 'AA' rated class M-3 certificate reflects the 3.50% credit enhancement provided by classes M-4 through M-8 certificate, B-1 certificate, monthly excess interest and initial OC. Credit enhancement for the 'AA-' rated class M-4 certificate reflects the 3.00% credit enhancement provided by the M-5 through M-8 certificates, B-1 certificate, monthly excess interest and initial OC. Credit enhancement for the 'A+' rated class M-5 certificate reflects the 2.50% credit enhancement provided by classes M-6 through M-8 certificate, B-1 certificate, monthly excess interest and initial OC. Credit enhancement for the 'A' rated class M-6 certificate reflects the 2.00% credit enhancement provided by the M-7, M-8 and B-1 certificates, monthly excess interest and initial OC. Credit enhancement for the 'A-' rated class M-7 certificates reflects the 1.50% credit enhancement provided by the M-8 and B-1 certificates, monthly excess interest and initial OC. Credit enhancement for the 'BBB+' rated class M-8 certificates reflects the 1.00% credit enhancement provided by the B-1 certificates, monthly excess interest and initial OC. Credit enhancement for the 'BBB' class B-1 certificate reflects the 0.50% credit enhancement provided by monthly excess interest and initial OC. In addition, the ratings reflect the integrity of the transaction's legal structure as well as the capabilities of Countrywide Home Loan Servicing Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services. LP as Master Servicer. The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. will act as Indenture Trustee; and Wilmington Trust Wilmington Trust (NYSE: WL) was founded on July 8, 1903) as a banking, trust, and safe deposit company by DuPont president T. Coleman du Pont. He opened the business in the dining room and parlor of a former private residence at 915 Market Street in Wilmington, Delaware with a Company will act as Owner Trustee. As of the cut-off date, June 1st, 2006, the mortgage loans have an aggregate principal balance of $541,930,050 and the average balance of the mortgage loans is approximately $333,085. The weighted average loan rate is approximately 6.746%. The weighted average remaining term to maturity is 358 months. The weighted average original loan-to-value (OLTV OLTV Original Loan-to-Value ratio OLTV on Line Television ) ratio is 75.96%. The properties are primarily located in California (49.21%), Arizona (6.57%), and Florida (5.90%). All other states represent less than 5% of the pool balance as of the cut-off date. None of the mortgage loans are 'high cost' loans as defined under any local, state or federal laws. For additional information on Fitch's rating criteria regarding predatory lending legislation, please see the press release issued May 1, 2003 entitled 'Fitch Revises Rating Criteria in Wake of Predatory Lending Legislation,' available on the 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. 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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