S&P Raises,Afms Rtgs on Var Cl of CMC Securities Corp.Business Editors June June: see month. 24, 2002-- Standard & Poor's today raised its rating on class M of CMC (Common Messaging Calls) A programming interface specified by the XAPIA as the standard messaging API for X.400 and other messaging systems. CMC is intended to provide a common API for applications that want to become mail enabled. 1. Securities Corp. III's 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 mortgage obligations series 1994-D to triple-'A' from double-'A'. In addition, ratings are raised on class 30B1 and 30B2 of CMC Securities Corp. IV's collateral mortgage obligations series 1994-H to double-'A'-plus from single-'A'-plus, and to triple-'B'-plus from triple-'B', respectively. At the same time, 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 the remaining classes of certificates issued by CMC Securities Corp. I, CMC Securities Corp. II, CMC Securities Corp. III, and CMC Securities Corp. IV (see list). The raised ratings reflect sufficient current and projected credit support percentages available to support the classes. The loss coverage percentages are greater than the original levels for the newly assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. ratings. The credit support for each class of certificates is provided through 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 affirmations are based on adequate credit support for each certificate class rating. Though some classes have projected credit support of more than two times (x) their original credit support percentages (and, in some cases, 100%), the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of the pool insurance provider limits the rating level. Series 1993-2E and 1993-D have pool insurance policies from PMI See Private Mortgage Insurance. Mortgage Insurance Co., which has an FSR of double-'A'-plus. Also, series 1993-2D has an additional pool insurance policy that is provided by General Electric Mortgage Insurance Corp. (GEMICO) (FSR of triple-'A'). As of the May 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, except for series 2000-1 (37.45%), total delinquencies for each of the series reviewed ranged from 0% to 10.75%, and cumulative realize losses as a percentage of original pool balance ranged from 0% to 1.62%. Except for series 2000-1, which is less than 44% of its original size, the outstanding pool balances of these series are no greater than 38% of their original size. Credit support is provided by a number of sources, which include subordination of the underlying classes, bond insurance, and pool insurance. The collateral for each loan group comprises either 15- or 30-year fixed-rate, fully amortizing, mortgage loans secured by 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. mortgages.
RATINGS RAISED
CMC Securities Corp. III
Rating
Series Class To From
1994-D D-M AAA AA
CMC Securities Corp. IV
Rating
Series Class To From
1994-H 30B1 AA+ A+
1994-H 30B2 BBB+ BBB
RATINGS AFFIRMED
CMC Securities Corp. I
Series Class Rating
1993-B B-1M, B-7, B-8, B-9PO, B-RL, B-RU, B10IO AAA
1993-D D-4, D-5 AAA
1993-D D-M2, D-PO AA+
CMC Securities Corp. II
Series Class Rating
1993-2A 2A-G, 2A-H, 2A-J, 2A-KPO, 2A-LIO, 2A-R AAA
1993-2D 2D-D, 2D-E, 2D-F, 2D-R AAA
1993-2E 15A, 15B, 15CPO, AA+
1993-2E 15DIO, 30H, 30I, 30J, 30K, 30NIO, 30PPO AA+
1996-C A AAA
CMC Securities Corp. III
Series Class Rating
1993-F F-A7, F-A8, F-A9, AAA
1993-F F-A10, F-A11, F-A12, F-A13, F-A14 AAA
1993-F F-AIO, F-APO, AAA
1993-F F-M AA
1994-C C-A6, C-A7, C-A8, C-A9, C-A10, AAA
1994-C C-A11, C-A12, C-A13 AAA
1994-C C-A14, C-A15, C-AIO, C-APO, C-ARU AAA
1994-C C-M AA
1994-D D-A1, D-AIO, D-APO, D-ARU AAA
1994-E A2, A3IO, A4, A6, A8, A9, AAA
1994-E A10, A11, A12, A13, A14 AAA
1994-E AIO, APO AAA
1994-E M AA
1994-E B1 A
1994-E B2 BBB
1994-F A3, A4, AIO, APO, AR AAA
1994-F M AA
2000-1 A, R AAA
2000-1 M1 AA
2000-1 M2 A
2000-1 B BBB-
CMC Securities Corp. IV
Series Class Rating
1994-G A-4, A-7, A-IO, A-PO AAA
1994-H 15A3, 15AIO, 15APO, 15M, AAA
1994-H 15B1 AA
1994-H 30A4, 30AIO, 30APO, 30M, ARU AAA
1994-I A-1, AIO, APO, ARL, ARU AAA
1997-2 IA-1, IA-5, IA-6, IA-11, AAA
1997-2 IA-12, IX, IIA-3, IIA-6, IIX AAA
1997-NAMC3 A-2, A-4, FXA-5, FXP, FXS, P, R, RP, S AAA
Copyright 2002, 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. |
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