Fitch Rates Morgan Stanley Mortgage Re-REMIC Trust 2009-R2.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 Morgan Stanley -- $72,200,000 class 1A1 A 'AAA'; Outlook Stable; -- $48,100,000 class 1A1 A1 'AAA'; Outlook Stable; -- $24,100,000 class 1A1 A2 'AAA'; Outlook Stable; -- $30,000,000 class 2-A 'AAA'; Outlook Stable; -- $21,600,000 class 2-A1 'AAA'; Outlook Stable; -- $8,400,000 class 2-A2 'AAA'; Outlook Stable. This transaction contains certain classes designated as Initial Exchangeable certificates and others as Exchangeable certificates. Class 1A1-A is an Initial Exchangeable certificate and is exchangeable for the combinations of Exchangeable notes 1A1-A1 and 1A1-A2. Class 2-A is an Initial Exchangeable certificate and is exchangeable for the combinations of Exchangeable notes 2-A1 and 2-A2. This transaction is a resecuritization of residential mortgage backed securities certificates and consists of two groups. The underlying certificates are backed by conventional Prime first-lien mortgage loans. As a resecuritization, the certificates will receive their cash flow from the underlying classes of certificates. The group-to-bond associations are as follows: Group 1: 64.23% interest in the J.P. Morgan Mortgage Trust 2006 S1, class 1-A-1. 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 1A1-A, 1A1-A1 and 1A1-A2 certificates is provided by the structural support on the underlying transaction and by the 9.94% class 1A1-B bond. Group 2: 74.08% interest in the 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. Mortgage Backed Security 2006-2, class I-A-1. Credit Enhancement for the 2-A, 2-A1 and 2-A2 certificates is provided by the structural support on the underlying transaction and by the 16.5% class 2B bond. The underlying collateral and cash flow structure were analyzed according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Fitch's 'U.S. Residential Mortgage Re-REMIC', 'ResiLogic: U.S. Residential Mortgage Loss Model' and 'U.S. RMBS RMBS Residential Mortgage-Backed Securities RMBS Rambus, Inc. (NASDAQ stock symbol) RMBS Russian Mortgage-Backed Securities Cash Flow Analysis' criteria. 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. ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP HTTP in full HyperText Transfer Protocol Standard application-level protocol used for exchanging files on the World Wide Web. HTTP runs on top of the TCP/IP protocol. ://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE '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 ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. |
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