New Issue: Washington Mutual Mortgage Securities Corp. May 01
- ID: 2034312
- May 2001
- Region: Washington
- Standard & Poors
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
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