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Fitch Rates Lehman Mortgage Trust Mtge P-T Ctfs, Series 2006-6.


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 Lehman Mortgage Trust (LMT LMT left mentotransverse (position of fetus). ) $694.5 million mortgage pass-through certificates, series 2006-6, as follows:

--$659.7 million classes 1-A1 through 1-A5, 2-A1 through 2-A6, 3-A1 through 3-A9, 4-A1 through 4-A17, 5-A1 through 5-A4, AP, AX1, AX2 and R 'AAA';

--$18.3 million classes 1B1 and 2B1 'AA';

--$6.4 million class 1B2 and 2B2 'A';

--$4.3 million class 1B3 and 2B3 'BBB';

--$3.2 million class 1B4 and 2B4 'BB';

--$2.6 million class 1B5 and 2B5 'B'.

The Group 1 'AAA' rating on the senior certificates reflects the 5.50% total 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
 provided by the 2.50% class 1B1, the 1% class 1B2, the 0.75% class 1B3, the 0.50% class 1B4, and the 0.40% class 1B5, as well as the non-rated 0.35% class 1B6.

The Group 2 'AAA' rating on the senior certificates reflects the 5% total credit enhancement provided by the 2.80% class 2B1, the 0.80% class 2B2, the 0.45% class 2B3, the 0.40% class 2B4, and the 0.35% class 2B5, as well as the non-rated 0.20% class 2B6.

Fitch believes that the amount of credit enhancement will be sufficient to cover credit losses, including limited bankruptcy, fraud and special hazard losses. In addition, the ratings reflect the quality of the mortgage collateral, the strength of the legal and financial structures, and the master servicing capabilities of Aurora Loan Services, Inc. (rated 'RMS1-' by Fitch) and the primary servicing capabilities of Aurora Loan Services LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
, IndyMac Bank, F.S.B., National City Mortgage Co., and PHH PHH Provinciale Handelsschool Hasselt (school)
PHH Pasukan Anti Huru-Hara (Anti Riot Task Force)
PHH Phillips Head (screw)
PHH Planar Halogenated Hydrocarbon
 Mortgage Corporation.

This transaction contains certain classes designated as exchangeable certificates and others as regular certificates. Classes 1-A1, 2-A1, 2-A6, 3-A5 through 3-A9, 4-A5, and 4-A12 through 4-A16 are the exchangeable certificates. Classes 1A-4, 1-A5, 2-A4, 2-A5, 3-A1 through 3-A4, 4-A3, 4-A4 and 4-A6 through 4-A11 are the regular certificates.

All or a portion of certain classes of offered certificates may be exchanged for a proportionate interest in the related exchangeable certificates. All or a portion of the exchangeable certificates may also be exchanged for the related offered certificates in the same manner. This process may occur repeatedly. The classes of offered certificates and of exchangeable certificates that are outstanding at any given time, and the outstanding principal balances and notional amounts of these classes, will depend upon any related distributions of principal, as well as any exchanges that occur. Offered certificates and exchangeable certificates in any combination may be exchanged only in the proportions shown in the governing documents. Holders of exchangeable certificates will be the beneficial owners of a proportionate interest in the certificates in the related combination group and will receive a proportionate share of the distributions on those certificates.

On each distribution date when exchangeable certificates are outstanding, principal distributions from the applicable related certificates are allocated to the related exchangeable certificates that are entitled to principal. The payment characteristics of the classes of exchangeable certificates will reflect the payment characteristics of their related classes of regular certificates.

The Group 1 mortgage pool trust consists of 1,697 fixed-rate, conventional, first lien residential mortgage loans, substantially all of which have original terms to stated maturity Stated maturity

For the CMO tranche, the date the last payment would occur at zero CPR.
 of 30 years. As of the cut-off date (September 1, 2006), the mortgages have an aggregate principal balance of approximately $394,706,591. The mortgage pool has a weighted average original loan-to-value ratio (OLTV OLTV Original Loan-to-Value ratio
OLTV on Line Television
) of 71.73%, a 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 7.178%, and a weighted average remaining term (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. ) of 359.

The Group 2 mortgage pool trust consists of 652 fixed-rate, conventional, first lien residential mortgage loans, substantially all of which have original terms to stated maturity of 30 years. As of the cut-off date (September 1, 2006), the mortgages have an aggregate principal balance of approximately $301,777,098. The mortgage pool has a weighted average original loan-to-value ratio (OLTV) of 69.78%, a weighted average coupon (WAC) of 6.806%, and a weighted average remaining term (WAM) of 358.

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 primarily originated or acquired by National City Mortgage Co., IndyMac Bank, F.S.B, Lehman Brothers Bank, FSB (FrontSide Bus) See system bus.

FSB - front side bus
, and PHH Mortgage Corporation.

Structured Asset Securities Corporation (SASCO SASCO ST (Singapore Technologies) Aviation Services Co.
SASCO South African Students Congress
SASCO Sudanese Aeronautical Services Co. Ltd
), a special purpose corporation, 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 multiple 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.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Sep 29, 2006
Words:858
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