Fitch Rates GSR $1.24B Mortgage Loan Trust 2005-AR4.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 GSR See Gigabit Switch Router. Mortgage Loan Trust series 2005-AR4 residential 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 as follows: Track 1 certificates: --$831.5 million classes 1A1, 2A1, 3A1, 3A2, 3A3, 3A4, 3A5, 4A1, 5A1, RT1 and R (senior certificates) 'AAA'. Track 2 certificates: --$411.1 million classes 6A1, X and RT2 (senior certificates) 'AAA'. The 'AAA' rating on the Track 1 senior certificates reflects the 3.70% subordination provided by the 1.70% class 1B1, the 0.70% class 1B2, the 0.45% class 1B3, the 0.35% privately offered class 1B4, 0.30% privately offered class 1B5 and the 0.20% privately offered 1B6 certificate. The publicly offered classes 1B1, 1B2, 1B3, and the privately offered classes 1B4, 1B5, and 1B6 are not rated by Fitch. The 'AAA' rating on the Track 2 senior certificates reflects the 2.80% subordination provided by the 1.30% class 2B1, the 0.60% class 2B2, the 0.30% class 2B3, the 0.25% privately offered class 2B4, 0.20% privately offered class 2B5 and the 0.15% privately offered 2B6 certificate. The publicly offered classes 2B1, 2B2, 2B3, and the privately offered classes 2B4, 2B5, and 2B6 are not rated by Fitch. The ratings also reflect the quality of the underlying collateral, the strength of the legal and financial structures, and the servicing capabilities of Countrywide Home Loans Servicing LP, National City Mortgage Co., and Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. , which are rated 'RPS1,' 'RPS2-,' and 'RPS1,' respectively, by 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. . The transaction is secured by six pools of mortgage loans. Loan groups 1-5 comprise Track 1. Loan group 6 comprises Track 2. Loan group 1 respectively collateralizes the group 1 certificates. Loan groups 2 respectively collateralize collateralize To pledge an asset as security for a loan. A loan to a broker is collateralized by pledging securities. the group 2, R and RT1 certificates. Loan group 3 respectively collateralizes the group 3 certificates. Loan group 4 respectively collateralizes the group 4 certificates. Loan group 5 respectively collateralizes the group 5 certificates. Loan group 6 respectively collateralizes the group 6, X, and RT2 certificates. The 1B1 through 1B6 certificates will be paid from Track 1 and the 2B1 through 2B6 will be paid from Track 2. The Track 1 collateral consists of 1578 recently originated, one- to four-family residential, hybrid adjustable-rate mortgage Adjustable-rate mortgage (ARM) A mortgage that features predetermined adjustments of the loan interest rate at regular intervals based on an established index. The interest rate is adjusted at each interval to a rate equivalent to the index value plus a predetermined spread, or loans. After an initial fixed interest rate period ranging from 3-10 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time interest rate will adjust annually based on the sum of either the One-Year LIBOR LIBOR See: London Interbank Offered Rate LIBOR See London interbank offered rate (LIBOR). or the One-Year CMT CMT Certified Medical Transcriptionist. CMT abbr. Certified Medical Transcriptionist CMT California mastitis test. index and a gross margin specified in the applicable mortgage note. As of the cut-off cut-off Anesthesiology The point at which elongation of the carbon chain of the 1-alkanol family of anesthetics results in a precipitous drop in the anesthetic potential of these agents–eg, at > 12 carbons in length, there is little anesthetic activity, date, June 1, 2005, the group consists of an approximate balance of $863,491,345. The mortgage loans were originated by Countrywide (22.6%), National City Mortgage (21.19%) and Wells Fargo (56.21%). The average unpaid principal balance of the mortgage loans is $551,047. Rate/Term and cashout refinances represent 25.59% and 13.39%, respectively. Second homes comprise of 7.98% and investor-occupied properties comprise of 0.42%. The states that represent the largest geographic concentration of mortgaged properties are California (46.21%), Virginia (7.53%) and Florida (5.40%). All other states comprise fewer than 5% of properties in the pool. The Track 2 collateral consists of 636 recently originated, one- to four-family residential, hybrid adjustable rate mortgage This article is about the US mortgage type. For an international perspective, see Variable rate mortgage. An adjustable rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted based on an index. loans. After an initial fixed interest rate period of ten years, the interest rate will adjust annually based on the sum of the One-Year LIBOR index and a gross margin specified in the applicable mortgage note. As of the cut-off date, June 1, 2005, the group consists of an approximate balance of $422,958,319. The mortgage loans were originated by Wells Fargo. The average unpaid principal balance of the mortgage loans is $665,029. Rate/Term and cashout refinances represent 20.57% and 29.30%, respectively. Second homes comprise of 8.42% and investor-occupied properties comprise of 3.92%. The state that represents the largest geographic concentration of mortgaged properties are California (58.57%). All other states comprise fewer than 5% of properties in the pool. 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.' GS Mortgage Securities Corp. deposited the loans in the trust, which issued the certificates, representing undivided and beneficial ownership in the trust. For federal income tax purposes, the trustee will cause one or more REMIC elections to be made for the trust. Wells Fargo Bank, N.A. will act as securities administrator and U.S. Bank National Association will serve as the trustee. Fitch's rating definitions are available on the agency's public web site, www.fitchratings.com. Published ratings, criteria and methodologies and 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 this site, at all times. This document will remain on the public site for seven days. |
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