new york home equity loan
Fitch Affirms GreenPoint Mortgage's Alt-A and HE/HELOC Resi ...
NEW YORK--(BUSINESS WIRE)--July 12, 2006--Fitch Ratings affirms GreenPoint Mortgage Funding Inc.'s (GPM) residential primary servicer ratings for Alt-A and home equity/home equity lines of credit (HE/HELOC) loans at 'RPS2'. The ratings are based on the company's experienced management team, established technology, and expanded training programs. The ratings also reflect the financial strength of GPM's parent, North Fork Bancorporation (North Fork), which is rated 'A-', Rating Watch Negative by Fitch.
Headquartered in Novato, California, GPM is a wholly owned subsidiary of North Fork Bank, a regional bank holding company. North Fork conducts commercial and retail banking from 358 branches throughout the New York metropolitan area, Connecticut and New Jersey and is headquartered in New York.
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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.