Fitch Rates CMALT $313.1MM Series 2006-A4 REMIC P-T Ctfs.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 CitiMortgage Alternative Loan Trust (CMALT), series 2006-A4 REMIC pass-through certificates as follows: -- $300,344,566 classes IA-1 through IA-12, IA-PO, IA-IO, IIA-1, IIA-IO, and IIA-PO certificates (senior certificates) 'AAA'; -- $6,280,000 class B-1 'AA'; -- $2,512,000 class B-2 'A' -- $1,727,000 class B-3 'BBB'. -- $1,256,000 class B-4 'BB'; -- $942,000 class B-5 'B'. The $942,163 class B-6 is not rated by Fitch. The 'AAA' rating on the senior certificates reflects the 4.35% subordination provided by the 2.00% class B-1, the 0.80% class B-2, the 0.55% class B-3, the 0.40% privately offered class B-4, the 0.30% privately offered class B-5, and the 0.30% privately offered class B-6. In addition, the ratings reflect the quality of the mortgage collateral, strength of the legal and financial structures, and CitiMortgage, Inc.'s servicing capabilities (rated 'RPS1' by Fitch) as primary servicer. As of the cut-off date, Sept. 1, 2006, the mortgage pool consists of 1,125 conventional, fully amortizing, 10- to 30-year fixed-rate mortgage loans secured by first liens on one- to four-family residential properties with an aggregate principal balance of approximately $314,003,729, located primarily in California (39.28%), New York (10.07%) and Minnesota (2.21%). The weighted average current loan to value ratio (CLTV CLTV Combined Loan To Value CLTV Collective CLTV ChicagoLand Television CLTV Customer Life Time Value ) of the mortgage loans is 70.16%. Approximately 70.1% of the loans were originated under a reduced documentation program. Condo and co-op properties account for 9.10% of the total pool. Cash-out refinance loans and investor properties represent 37.08% and 10.02% of the pool, respectively. The average balance of the mortgage loans in the pool is approximately $279,114. The weighted average coupon Weighted average Coupon The weighted average of the gross interest rates of mortgages underlying a pool as of the pool issue date; the balance of each mortgage is used as the weighting factor. (WAC WAC (Women's Army Corps), U.S. army organization created (1942) during World War II to enlist women as auxiliaries for noncombatant duty in the U.S. army. Before 1943 it was known as the Women's Auxiliary Army Corps (WAAC). Its first director was Oveta Culp Hobby. ) of the loans is 6.847% and the weighted average remaining term to maturity (WAM WAM - Intermediate language for compiled Prolog, used by the Warren Abstract Machine. "An Abstract Prolog Instruction Set", D.H.D. Warren, TR 309, SRI 1983. ) is 352 months. 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 web site at www.fitchratings.com. The mortgage loans were originated or acquired by CMI (Computer-Managed Instruction) Using computers to organize and manage an instructional program for students. It helps create test materials, tracks the results and monitors student progress. and in turn sold to CMSI CMSI Citicorp Mortgage Services, Inc. CMSI Checkout/Control and Monitor Subsystem Interface (NASA) . A special purpose corporation, CMSI, deposited the loans into the trust, which then issued the certificates. U.S. Bank National Association will serve as trustee. For federal income tax purposes, an election will be made to treat the trust fund as one or more real estate mortgage investment conduits. 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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