DBRS Downgrades 127 Classes from 18 U.S. RMBS Transactions

DBRS has today downgraded 127 classes from 18 residential mortgage-backed securities (RMBS) transactions.

The classes have been downgraded as a result of the significant increase in serious delinquencies and losses relative to the available credit enhancement. Given the level of serious delinquencies in the current pipeline and corresponding potential for further significant future losses, current credit support is not expected to be sufficient to cover the anticipated losses. Overcollateralization has been depleted in many transactions and excess spread continues to diminish. Additionally, in many cases, subordinate classes have already been impaired, further weakening the available credit support for the remaining senior and mezzanine classes.

Of the 18 affected transactions, 13 are backed by first-lien subprime collateral and five are backed by Alt-A collateral.


--$11,606,000, ACE Securities Corp. Home Equity Loan Trust, Series 2005-RM1, Asset-Backed Pass-Through Certificates, Series 2005-RM1, Class M-4 from BBB to BB
--$5,098,732, ACE Securities Corp. Home Equity Loan Trust, Series 2005-RM1, Asset-Backed Pass-Through Certificates, Series 2005-RM1, Class M-5 from BBB (low) to C
--$2,962,376, ACE Securities Corp. Home Equity Loan Trust, Series 2005-RM1, Asset-Backed Pass-Through Certificates, Series 2005-RM1, Class M-6 from BB (low) to C
--$2,684,654, ACE Securities Corp. Home Equity Loan Trust, Series 2005-RM1, Asset-Backed Pass-Through Certificates, Series 2005-RM1, Class M-7 from B (high) to C
--$2,107,180, ACE Securities Corp. Home Equity Loan Trust, Series 2005-RM1, Asset-Backed Pass-Through Certificates, Series 2005-RM1, Class M-8 from B to C
--$45,600,000, Ameriquest Mortgage Securities Inc. Series 2004-R7, US$45.6 million, Asset-Backed Pass-Through Certificates, Series 2004-R7, Class M-1 from AAA to AA
--$18,000,000, Ameriquest Mortgage Securities Inc. Series 2004-R7, US$18.0 million, Asset-Backed Pass-Through Certificates, Series 2004-R7, Class M-2 from AA (high) to AA
--$57,600,000, Ameriquest Mortgage Securities Inc. Series 2004-R7, US$57.6 million, Asset-Backed Pass-Through Certificates, Series 2004-R7, Class M-3 from AA (high) to A (high)
--$28,243,821, Ameriquest Mortgage Securities Inc. Series 2004-R7, US$28.8 million, Asset-Backed Pass-Through Certificates, Series 2004-R7, Class M-4 from AA to “A”
--$8,978,990, Ameriquest Mortgage Securities Inc. Series 2004-R7, US$26.4 million, Asset-Backed Pass-Through Certificates, Series 2004-R7, Class M-5 from AA (low) to A (low)
--$10,281,707, Ameriquest Mortgage Securities Inc. Series 2004-R7, Asset-Backed Pass-Through Certificates, Series 2004-R7, Class M-6 from A (low) to BBB
--$7,963,238, Ameriquest Mortgage Securities Inc. Series 2004-R7, Asset-Backed Pass-Through Certificates, Series 2004-R7, Class M-7 from BBB (high) to BB
--$7,125,002, Ameriquest Mortgage Securities Inc. Series 2004-R7, Asset-Backed Pass-Through Certificates, Series 2004-R7, Class M-8 from BBB to B
--$7,125,002, Ameriquest Mortgage Securities Inc. Series 2004-R7, Asset-Backed Pass-Through Certificates, Series 2004-R7, Class M-9 from BBB (low) to C
--$5,867,649, Ameriquest Mortgage Securities Inc. Series 2004-R7, Asset-Backed Pass-Through Certificates, Series 2004-R7, Class M-10 from BB (high) to C
--$925,274, Ameriquest Mortgage Securities Inc. Series 2004-R7, Asset-Backed Pass-Through Certificates, Series 2004-R7, Class M-11 from BB to C
--$63,750,000, Ameriquest Mortgage Securities Inc. Series 2004-R8, US$63.8 million, Asset-Backed Pass-Through Certificates, Series 2004-R8, Class M-1 from AA (high) to A (high)
--$50,000,000, Ameriquest Mortgage Securities Inc. Series 2004-R8, US$50.0 million, Asset-Backed Pass-Through Certificates, Series 2004-R8, Class M-2 from AA to BBB
--$31,250,000, Ameriquest Mortgage Securities Inc. Series 2004-R8, US$31.3 million, Asset-Backed Pass-Through Certificates, Series 2004-R8, Class M-3 from AA (low) to BBB (low)
--$25,000,000, Ameriquest Mortgage Securities Inc. Series 2004-R8, US$25.0 million, Asset-Backed Pass-Through Certificates, Series 2004-R8, Class M-4 from A (high) to BBB (low)
--$25,000,000, Ameriquest Mortgage Securities Inc. Series 2004-R8, US$25.0 million, Asset-Backed Pass-Through Certificates, Series 2004-R8, Class M-5 from A to BB (high)
--$12,091,131, Ameriquest Mortgage Securities Inc. Series 2004-R8, Asset-Backed Pass-Through Certificates, Series 2004-R8, Class M-6 from BBB to BB
--$7,525,718, Ameriquest Mortgage Securities Inc. Series 2004-R8, Asset-Backed Pass-Through Certificates, Series 2004-R8, Class M-7 from BBB (low) to B
--$5,414,796, Ameriquest Mortgage Securities Inc. Series 2004-R8, Asset-Backed Pass-Through Certificates, Series 2004-R8, Class M-8 from BB (high) to C
--$5,188,331, Ameriquest Mortgage Securities Inc. Series 2004-R8, Asset-Backed Pass-Through Certificates, Series 2004-R8, Class M-9 from BB to C
--$1,350,585, Ameriquest Mortgage Securities Inc. Series 2004-R8, Asset-Backed Pass-Through Certificates, Series 2004-R8, Class M-10 from BB (low) to C
--$24,000,000, Ameriquest Mortgage Securities Inc. Series 2004-R9, US$24.0 million, Asset-Backed Pass-Through Certificates, Series 2004-R9, Class M-2 from AA to BBB
--$17,500,000, Ameriquest Mortgage Securities Inc. Series 2004-R9, US$17.5 million, Asset-Backed Pass-Through Certificates, Series 2004-R9, Class M-3 from AA (low) to BBB (low)
--$16,000,000, Ameriquest Mortgage Securities Inc. Series 2004-R9, US$16.0 million, Asset-Backed Pass-Through Certificates, Series 2004-R9, Class M-4 from A to BB (high)
--$7,500,000, Ameriquest Mortgage Securities Inc. Series 2004-R9, US$7.5 million, Asset-Backed Pass-Through Certificates, Series 2004-R9, Class M-5 from A (low) to BB
--$7,500,000, Ameriquest Mortgage Securities Inc. Series 2004-R9, Asset-Backed Pass-Through Certificates, Series 2004-R9, Class M-6 from BBB to B
--$2,982,817, Ameriquest Mortgage Securities Inc. Series 2004-R9, Asset-Backed Pass-Through Certificates, Series 2004-R9, Class M-7 from BB (high) to C
--$2,475,601, Ameriquest Mortgage Securities Inc. Series 2004-R9, Asset-Backed Pass-Through Certificates, Series 2004-R9, Class M-8 from BB to C
--$1,384,241, Ameriquest Mortgage Securities Inc. Series 2004-R9, Asset-Backed Pass-Through Certificates, Series 2004-R9, Class M-9 from BB (low) to C
--$61,555,809, Ameriquest Mortgage Securities Inc. Series 2004-R11, US$14.3 million, Asset-Backed Pass-Through Certificates, Series 2004-R11, Class M-1 from AA (high) to A (low)
--$12,077,888, Ameriquest Mortgage Securities Inc. Series 2004-R11, US$14.3 million, Asset-Backed Pass-Through Certificates, Series 2004-R11, Class M-2 from AA to BBB (high)
--$6,506,080, Ameriquest Mortgage Securities Inc. Series 2004-R11, US$14.3 million, Asset-Backed Pass-Through Certificates, Series 2004-R11, Class M-3 from AA (low) to BBB
--$5,960,643, Ameriquest Mortgage Securities Inc. Series 2004-R11, US$14.3 million, Asset-Backed Pass-Through Certificates, Series 2004-R11, Class M-4 from A (high) to BBB (low)
--$5,066,547, Ameriquest Mortgage Securities Inc. Series 2004-R11, US$12.8 million, Asset-Backed Pass-Through Certificates, Series 2004-R11, Class M-5 from “A” to BB
--$4,768,514, Ameriquest Mortgage Securities Inc. Series 2004-R11, US$12.0 million, Asset-Backed Pass-Through Certificates, Series 2004-R11, Class M-6 from A (low) to BB (low)
--$2,980,322, Ameriquest Mortgage Securities Inc. Series 2004-R11, US$14.3 million, Asset-Backed Pass-Through Certificates, Series 2004-R11, Class M-7 from BBB (high) to B
--$2,086,225, Ameriquest Mortgage Securities Inc. Series 2004-R11, US$14.3 million, Asset-Backed Pass-Through Certificates, Series 2004-R11, Class M-8 from BBB to C
--$3,576,386, Ameriquest Mortgage Securities Inc. Series 2004-R11, US$14.3 million, Asset-Backed Pass-Through Certificates, Series 2004-R11, Class M-9 from BBB (low) to C
--$2,532,818, Ameriquest Mortgage Securities Inc. Series 2004-R11, Asset-Backed Pass-Through Certificates, Series 2004-R11, Class M-10 from BB (low) to C
--$49,800,000, Ameriquest Mortgage Securities Inc., Series 2005-R2, US$49.8 million Asset-Backed Pass-Through Certificate, Series 2005-R2 Class M-2 from AA to A (high)
--$16,800,000, Ameriquest Mortgage Securities Inc., Series 2005-R2, US$16.8 million Asset-Backed Pass-Through Certificate, Series 2005-R2 Class M-3 from AA (low) to A (low)
--$28,800,000, Ameriquest Mortgage Securities Inc., Series 2005-R2, US$28.8 million Asset-Backed Pass-Through Certificate, Series 2005-R2 Class M-4 from A (high) to BB
--$9,005,735, Ameriquest Mortgage Securities Inc., Series 2005-R2, US$12.0 million Asset-Backed Pass-Through Certificate, Series 2005-R2 Class M-6 from A (low) to B
--$9,915,422, Ameriquest Mortgage Securities Inc., Series 2005-R2, US$19.2 million Asset-Backed Pass-Through Certificate, Series 2005-R2 Class M-7 from BBB (high) to C
--$4,548,022, Ameriquest Mortgage Securities Inc., Series 2005-R2, US$9.0 million Asset-Backed Pass-Through Certificate, Series 2005-R2 Class M-8 from BBB to C
--$6,670,432, Ameriquest Mortgage Securities Inc., Series 2005-R2, US$13.2 million Asset-Backed Pass-Through Certificate, Series 2005-R2 Class M-9 from BBB (low) to C
--$3,942,988, Ameriquest Mortgage Securities Inc., Series 2005-R2, US$7.8 million Asset-Backed Pass-Through Certificate, Series 2005-R2 Class M-10 from BB (high) to C
--$6,329,844, Ameriquest Mortgage Securities Inc., Series 2005-R2, Asset-Backed Pass-Through Certificate, Series 2005-R2, Class M-11 from BB (low) to C
--$361,157,716, Bear Stearns Mortgage Funding Trust 2007-AR2, Mortgage Pass-Through Certificates, Series 2007-AR2, Class A-1 from AAA to BBB
--$180,578,858, Bear Stearns Mortgage Funding Trust 2007-AR2, Mortgage Pass-Through Certificates, Series 2007-AR2, Class A-2 from AAA to BBB
--$60,193,511, Bear Stearns Mortgage Funding Trust 2007-AR2, Mortgage Pass-Through Certificates, Series 2007-AR2, Class A-3 from AA to B
--$29,240,000, Bear Stearns Mortgage Funding Trust 2007-AR2, Mortgage Pass-Through Certificates, Series 2007-AR2, Class B-1 from BBB to C
--$15,622,000, Bear Stearns Mortgage Funding Trust 2007-AR2, Mortgage Pass-Through Certificates, Series 2007-AR2, Class B-2 from BB to C
--$11,616,000, Bear Stearns Mortgage Funding Trust 2007-AR2, Mortgage Pass-Through Certificates, Series 2007-AR2, Class B-3 from B to C
--$28,197,000, C-BASS 2004-CB8 Trust, US$28.2 million, Mortgage Loan Asset-Backed Certificates, Series 2004-CB8, Class M-2 from A to BBB
--$7,508,918, C-BASS 2004-CB8 Trust, C-BASS Mortgage Loan Asset-Backed Certificates, Series 2004-CB8, Class M-3 from A (low) to BB
--$4,599,801, C-BASS 2004-CB8 Trust, C-BASS Mortgage Loan Asset-Backed Certificates, Series 2004-CB8, Class B-1 from BB (high) to C
--$2,444,964, C-BASS 2004-CB8 Trust, C-BASS Mortgage Loan Asset-Backed Certificates, Series 2004-CB8, Class B-2 from BB (high) to C
--$2,333,996, C-BASS 2004-CB8 Trust, C-BASS Mortgage Loan Asset-Backed Certificates, Series 2004-CB8, Class B-3 from BB to C
--$3,723,664, C-BASS 2004-CB8 Trust, C-BASS Mortgage Loan Asset-Backed Certificates, Series 2004-CB8, Class B-4 from B to C
--$24,691,000, C-BASS 2005-CB8 Trust, US$24.7 million, C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-CB8, Class M-1 from A (low) to BBB (high)
--$24,280,000, C-BASS 2005-CB8 Trust, US$24.3 million, C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-CB8, Class M-2 from BBB (high) to BBB
--$17,284,000, C-BASS 2005-CB8 Trust, US$17.3 million, C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-CB8, Class M-3 from BBB (low) to BB
--$12,757,000, C-BASS 2005-CB8 Trust, US$12.8 million, C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-CB8, Class M-4 from BB (high) to B
--$12,345,000, C-BASS 2005-CB8 Trust, C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-CB8, Class M-5 from BB to C
--$10,699,000, C-BASS 2005-CB8 Trust, C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-CB8, Class M-6 from BB (low) to C
--$11,934,000, C-BASS 2005-CB8 Trust, C-Bass Mortgage Loan Asset-Backed Certificates, Series 2005-CB8, Class B-1 from B to C
--$122,737,518, Impac CMB Trust Series 2004-11, Collateralized Asset-Backed Bonds, Series 2004-11, Class 1-A-1 from AA to C
--$31,496,390, Impac CMB Trust Series 2004-11, Collateralized Asset-Backed Bonds, Series 2004-11, Class 1-A-2 from AA to C
--$2,000,509, Impac CMB Trust Series 2004-11, Collateralized Asset-Backed Bonds, Series 2004-11, Class 2-M-4 from BB (high) to BB
--$2,400,647, Impac CMB Trust Series 2004-11, Collateralized Asset-Backed Bonds, Series 2004-11, Class 2-M-5 from BB to B
--$1,428,986, Impac CMB Trust Series 2004-11, Collateralized Asset-Backed Bonds, Series 2004-11, Class 2-M-6 from BB (low) to C
--$857,641, Impac CMB Trust Series 2004-11, Collateralized Asset-Backed Bonds, Series 2004-11, Class 2-B from B (high) to C
--$15,282,471, Impac CMB Trust Series 2005-1, US$54.6 million, Collateralized Asset-Backed Bonds, Series 2005-1, Class 1-A-2 from AAA to A (high)
--$19,146,748, Impac CMB Trust Series 2005-1, US$97.7 million, Collateralized Asset-Backed Bonds, Series 2005-1, Class 2-A-2 from AAA to BBB
--$18,773,281, Impac CMB Grantor Trust 2005-1-1, US$78.1 million, Collateralized Asset-Backed Grantor Trust Certificates, Series 2005-1, Class M-1 from AA (high) to BB
--$13,366,586, Impac CMB Grantor Trust 2005-1-2, US$55.6 million, Collateralized Asset-Backed Grantor Trust Certificates, Series 2005-1, Class M-2 from AA to B
--$6,908,541, Impac CMB Grantor Trust 2005-1-3, Collateralized Asset-Backed Grantor Trust Certificates, Series 2005-1, Class M-3 from A (high) to C
--$3,754,656, Impac CMB Grantor Trust 2005-1-4, Collateralized Asset-Backed Grantor Trust Certificates, Series 2005-1, Class M-4 from A (low) to C
--$3,754,656, Impac CMB Grantor Trust 2005-1-5, Collateralized Asset-Backed Grantor Trust Certificates, Series 2005-1, Class M-5 from BBB to C
--$3,003,691, Impac CMB Grantor Trust 2005-1-6, Collateralized Asset-Backed Grantor Trust Certificates, Series 2005-1, Class M-6 from BBB (low) to C
--$2,252,894, Impac CMB Grantor Trust 2005-1-7, Collateralized Asset-Backed Grantor Trust Certificates, Series 2005-1, Class B from BB (high) to C
--$152,698,502, Impac CMB Trust Series 2005-3, US$567.0 million Collateralized Asset-Backed Bonds, Series 2005-3, Class A-1 from AAA to AA
--$16,966,500, Impac CMB Trust Series 2005-3, US$63.0 million Collateralized Asset-Backed Bonds, Series 2005-3 ,Class A-2 from AAA to AA
--$40,396,429, Impac CMB Trust Series 2005-3, US$150.0 million Collateralized Asset-Backed Bonds, Series 2005-3, Class A-3 from AAA to AA
--$25,584,405, Impac CMB Trust Series 2005-3, US$95.0 million Collateralized Asset-Backed Bonds, Series 2005-3, Class M-1 from AA (high) to BB (low)
--$12,118,929, Impac CMB Trust Series 2005-3, US$45.0 million Collateralized Asset-Backed Bonds, Series 2005-3, Class M-2 from AA to B
--$6,463,429, Impac CMB Trust Series 2005-3, Collateralized Asset-Backed Bonds, Series 2005-3, Class M-3 from “A” to C
--$4,308,952, Impac CMB Trust Series 2005-3, Collateralized Asset-Backed Bonds, Series 2005-3, Class M-4 from A (low) to C
--$4,712,917, Impac CMB Trust Series 2005-3, Collateralized Asset-Backed Bonds, Series 2005-3, Class M-5 from BBB to C
--$2,693,095, Impac CMB Trust Series 2005-3, Collateralized Asset-Backed Bonds, Series 2005-3, Class M-6 from BBB (low) to C
--$3,366,369, Impac CMB Trust Series 2005-3, Collateralized Asset-Backed Bonds, Series 2005-3, Class B from BB (low) to C
--$144,591,424, Long Beach Mortgage Loan Trust 2005-3, Asset-Backed Certificates, Series 2005-3, Class I-A from AA to BBB
--$48,860,000, Long Beach Mortgage Loan Trust 2005-3, Asset-Backed Certificates, Series 2005-3, Class II-A3 from AA to BBB
--$41,251,000, Long Beach Mortgage Loan Trust 2005-3, Asset-Backed Certificates, Series 2005-3, Class M-1 from “A” to B
--$38,959,000, Long Beach Mortgage Loan Trust 2005-3, Asset-Backed Certificates, Series 2005-3, Class M-2 from BBB (high) to C
--$26,737,000, Long Beach Mortgage Loan Trust 2005-3, Asset-Backed Certificates, Series 2005-3, Class M-3 from BBB (low) to C
--$122,592,146, Morgan Stanley Capital I Inc. Trust 2006-NC2, US$430.6 million, Mortgage Pass-Through Certificates, Series 2006-NC2, Class A-1 from AAA to BBB
--$156,030,000, Morgan Stanley Capital I Inc. Trust 2006-NC2, US$156.0 million, Mortgage Pass-Through Certificates, Series 2006-NC2, Class A-2c from AAA to “A”
--$100,004,000, Morgan Stanley Capital I Inc. Trust 2006-NC2, US$100.0 million, Mortgage Pass-Through Certificates, Series 2006-NC2, Class A-2d from AAA to BBB
--$53,961,000, Morgan Stanley Capital I Inc. Trust 2006-NC2, Mortgage Pass-Through Certificates, Series 2006-NC2, Class M-1 from “A” to B
--$41,181,000, Morgan Stanley Capital I Inc. Trust 2006-NC2, Mortgage Pass-Through Certificates, Series 2006-NC2, Class M-2 from BB (high) to C
--$24,851,000, Morgan Stanley Capital I Inc. Trust 2006-NC2, Mortgage Pass-Through Certificates, Series 2006-NC2, Class M-3 from BB to C
--$22,010,000, Morgan Stanley Capital I Inc. Trust 2006-NC2, Mortgage Pass-Through Certificates, Series 2006-NC2, Class M-4 from B to C
--$3,117,358, Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2005-AR3, US$6.6 million Mortgage Pass-Through Certificates, Series 2005-AR3, Class III-A-2 from AAA to AA (low)
--$5,028,683, Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2005-AR3, US$26.2 million Mortgage Pass-Through Certificates, Series 2005-AR3, Class I-A-2 from AAA to BBB (high)
--$0, Structured Asset Investment Loan Trust, Series 2004-11, Lehman Brothers Mortgage Pass-Through Certificates, Series 2004-11, Class M-9 from B to C
--$121,718,237, Structured Asset Securities Corporation Mortgage Loan Trust 2007-WF1, Mortgage Pass-Through Certificates, Series 2007-WF1, Class A1 from AA to BB
--$68,527,000, Structured Asset Securities Corporation Mortgage Loan Trust 2007-WF1, Mortgage Pass-Through Certificates, Series 2007-WF1, Class A4 from AA to BBB
--$27,452,000, Structured Asset Securities Corporation Mortgage Loan Trust 2007-WF1, Mortgage Pass-Through Certificates, Series 2007-WF1, Class A5 from AA to BBB
--$121,717,627, Structured Asset Securities Corporation Mortgage Loan Trust 2007-WF1, Mortgage Pass-Through Certificates, Series 2007-WF1, Class A6 from AA to BB
--$31,373,000, Structured Asset Securities Corporation Mortgage Loan Trust 2007-WF1, Mortgage Pass-Through Certificates, Series 2007-WF1, Class M1 from BB (high) to C
--$19,926,000, Structured Asset Securities Corporation Mortgage Loan Trust 2007-WF1, Mortgage Pass-Through Certificates, Series 2007-WF1, Class M2 from BB to C
--$13,567,000, Structured Asset Securities Corporation Mortgage Loan Trust 2007-WF1, Mortgage Pass-Through Certificates, Series 2007-WF1, Class M3 from B to C
--$13,143,000, Structured Asset Securities Corporation Mortgage Loan Trust 2007-WF1, Mortgage Pass-Through Certificates, Series 2007-WF1, Class M4 from B to C
--$12,719,000, Structured Asset Securities Corporation Mortgage Loan Trust 2007-WF1, Mortgage Pass-Through Certificates, Series 2007-WF1, Class M5 from B (low) to C
--$309,822,000, Wells Fargo Home Equity Asset-Backed Securities 2006-3 Trust, Home Equity Asset-Backed Certificates, Series 2006-3, Class A-2 from AAA to BBB
--$20,730,000, Wells Fargo Home Equity Asset-Backed Securities 2006-3 Trust, Home Equity Asset-Backed Certificates, Series 2006-3, Class A-3 from AAA to BBB
--$51,550,000, Wells Fargo Home Equity Asset-Backed Securities 2006-3 Trust, Home Equity Asset-Backed Certificates, Series 2006-3, Class M-1 from “A” to B
--$43,478,000, Wells Fargo Home Equity Asset-Backed Securities 2006-3 Trust, Home Equity Asset-Backed Certificates, Series 2006-3, Class M-2 from BBB to C
--$14,351,000, Wells Fargo Home Equity Asset-Backed Securities 2006-3 Trust, Home Equity Asset-Backed Certificates, Series 2006-3, Class M-3 from BB to C
--$17,034,000, Wells Fargo Home Equity Asset-Backed Securities 2006-3 Trust, Home Equity Asset-Backed Certificates, Series 2006-3, Class M-4 from B to C


Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is U.S. RMBS Surveillance Methodology, which can be found on our website under Methodologies.

This is a Structured Finance (RMBS) rating.

DBRS's rating definitions and the terms of use of such ratings are available at www.dbrs.com.

Ratings

Back to top