Fitch Ratings Affirms 6 Classes from MALT 2004-13.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 the following Mortgage Asset Securitization Transactions, Inc. (MASTR MASTR Multiple Assets Status Report MASTR Mobiles And Stations Transistorized (General Electric radio manufactured in 1960s and 1970s) ) Alternative Loan Trust (MALT) mortgage pass-through certificates: Series 2004-13 Total 1, 2, 4, & 6 --Class A at 'AAA'; --Class B-I-1 at 'AA'; --Class B-I-2 at 'A'; --Class B-I-3 at 'BBB'; --Class B-I-4 at 'BB'. Series 2004-13 Total 3, 5, & 7-12 --Class A at 'AAA'. The affirmations, affecting approximately $294 million of the outstanding certificates, reflect a stable relationship between 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 and expected loss. In addition, both of the groups of the above transaction have experienced growth in credit enhancement (CE) of at least 1.27 times (x) the original CE and have suffered no losses to date. The collateral of the above transaction consists of fully amortizing, 10-year to 30-year fixed-rate mortgage loans extended to Alt-A borrowers and secured by first liens on one- to four-family residential properties. The loans were acquired by UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System from various originators and are master serviced by Wells Fargo Bank Minnesota, N.A., which is rated 'RMS1' by Fitch. As of the December 2006 distribution date, the pool factor (current mortgage loan principal outstanding as a percentage of the initial pool) for Total 1, 2, 4, & 6 is 74% and for Total 3, 5, & 7-12 is 66%. In addition, the transaction is seasoned 24 months. 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. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion