Fitch Rates IndyMac INDX Mortgage Loan Trust $693.9M Series 2006-AR39.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 -- IndyMac INDX INDX Index Mortgage Loan Trust's $693.9 million mortgage pass-through certificates, series 2006-AR39, are rated 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. as follows: --$649,852,100 classes A-1, A-2, and A-R senior certificates 'AAA'; --$20,124,000 class M-1, M-2, and M-3 certificates 'AA+'; --$6,939,000 class M-4 and M-5 certificates 'AA'; --$6,939,000 class M-6 and M-7 certificates 'A+'; --$3,470,000 class M-8 certificates 'A-'; --$4,163,000 class M-9 certificates 'BBB-'. Fitch does not rate the $100 privately offered class P-1 certificates and the $100 privately offered class P-2 certificates. The 'AAA' rating on the senior certificates reflects the 6.35% subordination provided by the 1.70% class M-1, 0.7% class M-2, 0.5% class M-3, 0.5% class M-4, 0.5% class M-5, 0.5% class M-6, 0.5% class M-7, 0.5% class M-8, 0.6% class M-9 certificate and 0.35% initial overcollateralization (OC). All certificates have the benefit of monthly excess cash flow to absorb losses. In addition, the ratings also reflect the quality of the underlying mortgage collateral, strength of the legal and financial structures and the primary servicing capabilities of IndyMac Bank, F.S.B (rated 'RPS2+' by Fitch). The trust consists of 1,864 conventional 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 secured by first-lien on one- to four-family residential properties with stated maturity Stated maturity For the CMO tranche, the date the last payment would occur at zero CPR. of not more than 30 years and an aggregate principal balance of $693,916,198 as of the cut-off date (Dec. 1, 2006). The mortgage pool has a weighted average original loan-to-value ratio (OLTV OLTV Original Loan-to-Value ratio OLTV on Line Television ) of 74.02% with a weighted average mortgage rate of 6.497%. The weighted-average FICO score of the loans is 708. The average loan balance is $372,273 and the loans are primarily concentrated in California (54.03%), Florida (5.94%) and Maryland (3.92%). 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 May 1, 2003 press release entitled 'Fitch Revises Rating Criteria in Wake of Predatory Lending Legislation', available on the Fitch Ratings web site at www.fitchratings.com. Deutsche Bank National Trust Company, a national banking association will serve as trustee. IndyMac MBS See Mb/sec. MBS - mobile broadband services , Inc., a Delaware corporation and a limited purpose finance subsidiary of IndyMac Bank, F.S.B., deposited the loans in the trust which issued the certificates. For federal income tax purposes, an election will be made to treat the trust fund as one or more real estate mortgage investment conduits (REMICs). 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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