home equity loan rate
Fitch Rates $138.77MM ACE Securities Corp. HE Loan Trust, Series ...
NEW YORK--(BUSINESS WIRE)--June 26, 2006--Fitch rates ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD2, as follows:
-- $99,507,000 class A 'AAA';
-- $18,145,000 class M-1 'AA';
-- $11,613,000 class M-2 'A';
-- $4,863,000 class M-3 'BBB+';
-- $2,395,000 class M-4 'BBB';
-- $2,250,000 class M-5 'BBB-'.
The 'AAA' rating on the senior certificates reflects the 32.15% credit enhancement provided by the 12.50% class M-1, 8% class M-2, 3.35% class M-3, 1.65% class M-4, and 1.55% class M-5, along with an overcollateralization (OC). Initial OC will be 4.40% growing to a target of 5.10%. In addition, the ratings on the certificates reflect the quality of the underlying collateral, and Fitch's level of confidence in the integrity of the legal and financial structure of the transaction.
More home equity loan rate info
Fitch Rates HSBC Home Equity Loan Trust (USA)(HELT) 2006-1
The 'AAA' rating on the senior certificates reflects the 39.50% total credit enhancement provided by the 10.5% class M-1 certificate, 7.80% class M-2 and the 21.20% initial over-collateralization (OC), and the 21.20% target OC. Initial OC is set at $279,407,406.
All certificates have the benefit of monthly excess cash flow to absorb losses. In addition, the ratings reflect the quality of the loans and the integrity of the transaction's legal structure, as well as the primary servicing capabilities of HSBC Finance Corp.
The mortgage pool consists of closed-end fixed and declining rate fully amortizing home equity loans with a cut-off date aggregate principal outstanding balance of $1,317,957,406. As of the cut-off date (June 14, 2006), the weighted average loan rate is approximately 8.42%, and the weighted average original term to maturity is 322 months.