Fitch Ratings Affirms 40 SASCO RMBS Ratings from 5 Securitizations.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 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. has affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. 40 classes of Structured Asset Securities Corp. (SASCO SASCO ST (Singapore Technologies) Aviation Services Co. SASCO South African Students Congress SASCO Sudanese Aeronautical Services Co. Ltd ) residential mortgage-backed certificates, as follows: Series 2001-16H -- Class A affirmed at 'AAA'; -- Classes B1, BX-1 affirmed at 'AAA'; -- Classes B2, BX-2 affirmed at 'AA'; -- Class B3 affirmed at 'BBB'; -- Class B4 affirmed at 'BB'; -- Class B5 affirmed at 'B'. Series 2002-4H -- Class A affirmed at 'AAA'; -- Class B1 affirmed at 'AAA'; -- Class B2 affirmed at 'AA'; -- Class B3 affirmed at 'BBB+'; -- Class B4 affirmed at 'BB'; -- Class B5 affirmed at 'B'. Series 2002-10H -- Class A affirmed at 'AAA' -- Class B1 affirmed at 'AA' -- Class B2 affirmed at 'A' -- Class B3 affirmed at 'BBB' -- Class B4 affirmed at 'BB' -- Class B5 affirmed at 'B' Series 2002-22H group 1 -- Class 1A affirmed at 'AAA'; -- Class B1-I affirmed at 'AA'; -- Class B2-I affirmed at 'A'; -- Class B3-I affirmed at 'BBB'; -- Class B4-I affirmed at 'BB'; -- Class B5-I affirmed at 'B'. Series 2002-22H group 2 -- Class 2A affirmed at 'AAA'; -- Class B1-II affirmed at 'AA'; -- Class B2-II affirmed at 'A'; -- Class B3-II affirmed at 'BBB'; -- Class B4-II affirmed at 'BB'; -- Class B5-II affirmed at 'B'. Series 2003-7H -- Class A affirmed at 'AAA'; -- Classes B1-F, B1-III affirmed at 'AA'; -- Classes B2-F, B2-III affirmed at 'A'; -- Class B3 affirmed at 'BBB'; -- Class B4 affirmed at 'BB'; -- Class B5 affirmed at 'B'. These affirmations reflect 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 consistent with future loss expectations and affect $289,878,957 of outstanding certificates. The pools are seasoned from a range of 27 to 43 months. The pool factors (current principal balance as a percentage of original) range from approximately 10% to 36% outstanding. The collateral consists of adjustable or fixed rate, conventional, fully amortizing first lien lien, claim or charge held by one party, on property owned by a second party, as security for payment of some debt, obligation, or duty owed by that second party. residential mortgage loans. Additionally, all of the mortgage loans have loan to value ratios in excess of 80%. The mortgage loans generally are covered by primary mortgage insurance polices issued by either United Guaranty As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. Corporation in connection with the Borrower Advantage Program, or Mortgage Guaranty Insurance Corporation Mortgage Guaranty Insurance Corporation (a subsidiary of MGIC Investment Corporation) NYSE: MTG is the largest provider of private mortgage insurance in the United States. in connection with the Pro Mortgage Program. Further information regarding current delinquency, loss, and credit enhancement statistics is available on the Fitch Ratings web site at www.fitchratings.com. 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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