Fitch Ratings Affirms 5 Classes from Merrill Lynch Bank 2001-A.NEW YORK -- Fitch has taken rating actions on the following Merrill Lynch Bank issue: MLB MLB Major League Baseball MLB Minor League Baseball MLB Middle Linebacker (football) MLB Motor Life Boat MLB Matt Leblanc (actor) MLB Mother Love Bone (band) USA Series 2001-A: --Class A affirmed at 'AAA'; --Class M-1 affirmed at 'AA+'; --Class M-2 affirmed at 'AA-'; --Class B-1 affirmed at 'BBB'; --Class B-2 affirmed at 'BB'. These affirmations, representing approximately $136.8 million of outstanding principal, reflect collateral performance and credit enhancement consistent with expectations. The pool is 67 months seasoned. The pool factor (current principal balance as a percentage of original) is approximately 21%. The collateral consists of high balance, 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 secured by first liens on one- to four-family residential properties, condominiums and shares issued by private non-profit housing corporations and related proprietary leases or occupancy agreements. Merrill Lynch Credit Corporation originated or acquired all of the mortgage loans. The loans are currently being serviced by PHH Mortgage Corp., rated 'RPS1-' by Fitch. At issuance, the mortgage loans had a weighted average FICO FICO See: Financing corporation of 692 and a weighted average loan-to-value (LTV LTV See: Loan-to-value ratio ) ratio of 85%. All of the loans have stated maturities of 25 years. 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 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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