S&P Raises, Afms Var Rtgs on CHL Mortgage Trust Certs.Business EditorsNEW YORK--(BUSINESS WIRE)--Standard & Poor's Jan. 9, 2003-- Standard & Poor's Ratings Services Ratings Service A company, such as Moody's or Standard & Poor's, that rates various debt and preferred stock issues for safety of payment of principal, interest, or dividends. today raised its ratings on six classes of mortgage pass-through certificates Pass-Through Certificates (PTCs) are instruments that evidence the ownership of two or more Equipment Trust Certificates. In other words, Equipment Trust Certificates may be bundled into a pass-through structure as a means of diversifying the asset pool and/or increasing the size from two transactions issued by CHL CHL crown-heel length. Mortgage Pass-Through pass-through n. 1. An opening between two rooms, especially a shelved space between a kitchen and dining room that is used for passing food. 2. A route through which something is permitted to pass. 3. Trust. Concurrently con·cur·rent adj. 1. Happening at the same time as something else. See Synonyms at contemporary. 2. Operating or acting in conjunction with another. 3. Meeting or tending to meet at the same point; convergent. , ratings are 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. on 412 classes from 41 transactions from the same issuer (see list). The raised ratings reflect actual and projected credit-support percentages, low delinquencies, and no or minimal cumulative realized losses Realized Loss A loss recognized when assets are sold for a price lower than the original purchase price. Notes: A portion of the realized loss may be applied against a capital gain or realized profit to reduce taxes. , all of which support the higher ratings. The higher credit support percentages resulted from significant principal prepayments Prepayments Payments made in excess of scheduled mortgage principal repayments. and the shifting interest structure of the transactions. Series 1998-22 had total delinquencies of 1.28% and no realized losses to date whereas series 1999-4 had total delinquencies of 0.60% and realized losses of approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 0.006% of its original balance to date. In addition, approximately 33% and 39% of the principal balances of series 1998-22 and 1999-4, respectively, were outstanding. The affirmed ratings reflect actual and projected credit-support percentages, low delinquencies, and no or minimal cumulative realized losses. As of the November November: see month. 2002 remittance Money sent from one individual to another in the form of cash, check, or some other manner. Financial statements sent by a creditor to a debtor frequently refer to the process of submitting a monthly remittance. REMITTANCE, comm. law. date, total delinquency delinquency Criminal behaviour carried out by a juvenile. Young males make up the bulk of the delinquent population (about 80% in the U.S.) in all countries in which the behaviour is reported. percentages ranged from 0.60% for series 1999-4 to 15.69% for series 2000-5, while cumulative realized losses ranged from 0.00% for 17 transactions (issued in 2001 and 2002) to 0.20% for series 2000-2. Credit support for the transactions is provided by subordination To put in an inferior class or order; to make subject to, or subservient. A legal status that refers to the establishment of priority between various existing liens or encumbrances on the same parcel of property. . The underlying collateral collateral (kəlăt`ərəl), something of value given or pledged as security for payment of a loan. Collateral consists usually of financial instruments, such as stocks, bonds, and negotiable paper, rather than physical goods, although consists primarily of 15- or 30-year fixed-rate and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. adjustable-rate mortgage Adjustable-rate mortgage (ARM) A mortgage that features predetermined adjustments of the loan interest rate at regular intervals based on an established index. The interest rate is adjusted at each interval to a rate equivalent to the index value plus a predetermined spread, or loans, which are secured by first liens on one- to four-family residential properties. RATINGS RAISED CHL Mortgage Pass-Through Trust Mortgage pass-thru certs
Rating
Series Class To From
1998-22 M AAA AA+
1998-22 B-1 AA A+
1998-22 B-2 A BBB+
1999-4 M AA+ AA
1999-4 B-1 AA A
1999-4 B-2 A BBB
RATINGS AFFIRMED
CHL Mortgage Pass-Through Trust
Series Class Rating
1998-17 A-1, A-2, A-3, A-4, A-5, A-6, PO, X AAA
1998-18 I-A-3, I-A-4, I-A-5, I-A-6, I-A-7 AAA
1998-18 II-A-2, II-A-3, II-A-4, II-A-5, II-A-7 AAA
1998-18 PO, X-1, X-2 AAA
1998-19 A-2, A-3, A-4, A-5, A-6, A-7, A-8, A-9 AAA
1998-19 A-10, A-11, A-12, A-13, PO, X AAA
1998-20 A, PO, X AAA
1998-21 A-1, A-2, A-3, A-4, A-5, A-6, A-7 AAA
1998-21 A-8, A-9, A-10, A-11, PO, X AAA
1998-22 A, PO, X AAA
1998-23 A, PO, X AAA
1999-1 A-1, A-2, A-3, A-4, A-5, A-6, A-7, A-8 AAA
1999-1 A-9, A-10, A-12, A-13, A-14, A-15 AAA
1999-1 A-16, A-17, A-18, PO, X AAA
1999-2 A-1, A-2, A-3, A-4, A-5, A-6, P-O, X AAA
1999-3 A-1, A-2, A-4, A-7, A-8, A-9, A-10, A-11 AAA
1999-3 A-R, PO, X AAA
1999-4 A-1, A-2, A-3, PO, X AAA
1999-7 A-1, A-2, A-3, A-4, A-5, PO, X AAA
1999-8 A-2, A-3, A-4, A-5, A-9, A-11, A-12 AAA
1999-8 A-13, A-14, A-18, A-19, A-20, PO, X AAA
1999-9 A-1, PO, X AAA
1999-10 A-3, A-11, A-12, A-13, A-14, A-15, A-16 AAA
1999-10 A-17, A-18, A-20, A-21, A-22, A-23, PO, X AAA
1999-11 A-6, A-7, A-8, A-9, A-10, A-11, A-12 AAA
1999-11 A-13, A-14, A-15, A-16, PO, X AAA
1999-12 A-4, A-36, A-37, PO, X AAA
2000-2 A-4, A-5, PO, X AAA
2000-5 1-A-6, 1-A-7, 1-A-8, 2-A-4, PO, X AAA
2001-2 A-1, PO, X AAA
2001-6 1-A-2, 1-A-3, 1-A-6, 1-A-7, 1-A-8 AAA
2001-6 2-A-1, PO AAA
2001-7 A-1, A-2, A-3, A-4, A-5, A-6, A-7, A-8, PO AAA
2001-11 A-1, A-2, A-3, A-4, A-5, A-6, A-7, PO AAA
2001-12 1-A-1, 1-A-2, 1-A-3, 1-A-4, 1-A-5, 1-A-6 AAA
2001-12 1-A-7, 2-A-1, PO AAA
2001-13 A-1, A-2, A-3, A-4, A-5, A-6, A-7, PO AAA
2001-20 1-A-1, 1-A-2, 1-A-3, 1-A-4, 1-A-5, 1-A-6 AAA
2001-20 1-A-7, 1-X, PO, 2-A-1,2-X AAA
2001-22 A-2, A-3, A-4, A-5, A-6, A-10, PO AAA
2001-22 M AA 2001-22 B-1 A
2001-22 B-2 BBB
2001-25 1-A-2, 1-A-3, 1-A-9, 1-A-11, 1-A-12, 1-X AAA
2001-25 2-A-1, 2-A-2, 2-A-3, 2-X, 3-A-1, 3-X, PO AAA
2001-25 M AA 2001-25 B-1 A
2001-25 B-2 BBB
2001-29 A-1, A-2, A-3, A-4, A-5, A-6, A-7, A-8 AAA
2001-29 A-9, A-10, A-11, A-12, PO, X, AAA
2001-29 M AA
2001-29 B-1 A
2001-29 B-2 BBB
2001-30 1-A-1, PO, 2-A-1, 3-A-1, 3-A-2, 3-A-3 AAA
2001-30 3-A-4, 3-X AAA
2001-30 M AA
2001-30 B-1 A
2001-30 B-2 BBB
2001-32 A-2, A-3, A-4, A-5, A-6, A-7, A-10, A-11 AAA
2001-32 A-12, PO, X AAA
2001-32 M AA
2001-32 B-1 A
2001-32 B-2 BBB
2001-HYB1 1-A-1, 2-A-1, 3-A-1, 3-A-2 AAA
2001-HYB2 1-A-1, 2-A-1, 3-A-1, 1-X, 2-X AAA
2001-HYB2 M AA
2001-HYB2 B-1 A
2001-HYB2 B-2 BBB
2002-1 1-A-1, X, 2-A-1, 3-A-1, 4-A-1, 4-A-2. AAA
2002-1 4-A-3, 5-A-1, 6-A-1 AAA
2002-1 M AA 2002-1 B-1 A 2002-1 B-2 BBB
2002-5 1-A-1, 1-A-2, 1-A-3, 1-A-4, 1-A-5, 1-A-6 AAA
2002-5 1-A-7, 1-A-11, 1-A-12, 1-A-13, 1-A-15 AAA
2002-5 1-A-16, 1-A-17, 1-A-18, 1-A-19, 1-A-20, 1-X AAA
2002-5 2-A-1, 2-X, PO AAA
2002-5 M AA 2002-5 B-1 A
2002-5 B-2 BBB
2002-7 1-A-1, 2-A-1, 3-A-1, 3-A-2, 3-A-3, 4-A-1 AAA
2002-7 5-A-1, 1-X AAA
2002-7 M AA
2002-7 B-1 A
2002-7 B-2 BBB
2002-9 A-1, A-2, A-3, A-4, A-5, A-7, A-8, PO AAA
2002-9 M AA
2002-9 B-1 A
2002-9 B-2 BBB
2002-HYB1 1-A-1, 2-A-1, 3-A-1, 3-A-2, 4-A-1, 5-A-1 AAA
2002-HYB1 5-A-2, 5-A-3, 1-X AAA
2002-HYB1 M AA
2002-HYB1 B-1 A
2002-HYB1 B-2 BBB
2002-HYB2 1-A-1, 2-A-1, 3-A-1, 4-A-1, 5-A-1, 6-A-1 AAA
2002-HYB2 7-A-1, 1-X AAA
2002-HYB2 M AA
2002-HYB2 B-1 A
2002-HYB2 B-2 BBB
2002-J1 A-1, A-2, A-3, A-4, A-5, A-6, A-7, A-8 AAA
2002-J1 PO, X AAA
2002-J1 M AA
2002-J1 B-1 A
2002-J1 B-2 BBB
2002-J2 1-A-1, 1-A-2, 1-A-3, 1-A-4, 1-A-5, 1-A-6 AAA
2002-J2 1-A-7, 1-A-8, 1-A-9, 1-A-10, 1-A-11, 1-X AAA
2002-J2 2-A-1, 2-X, PO AAA
2002-J2 M AA
2002-J2 B-1 A
2002-J2 B-2 BBB
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