New Issue: Washington Mutual Mortgage Securities Corp. May 01

  • ID: 2034312
  • May 2001
  • Region: Washington
  • Standard & Poors
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The ratings assigned to Washington Mutual Mortgage Securities Corp.'s mortgage pass-through certificates, series 2001-3, are based on a level of credit enhancement that meets Standard & Poor's requirements, given the quality of the loans, distribution of the mortgaged properties, and a legal structure designed to minimize potential losses to investors caused by the originator's bankruptcy (see table 1). The senior classes, along with the rated and nonrated subordinate classes, represent an undivided ownership interest in a trust fund. The trust primarily contains a pool of 30-year, fixed-rate mortgage loans secured by first liens on one- to four-family properties. The loans are divided into three distinct loan groups, and loan groups I and III are crosscollateralized. The loans were underwritten in...

Companies mentioned in this report are: Washington Mutual Mortgage Securities Corp
Action: New Rating

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

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Washington Mutual Mortgage Securities Corp

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