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RFMSI $337.3MM Mtge P-T Ctfs Ser 2000-S10 Rated By Fitch.
Business Editors
NEW YORK--(BUSINESS WIRE)--Aug. 25, 2000
Residential Funding Mortgage Securities I, Inc.'s (RFMSI) $326.4 million mortgage pass-through certificates, series 2000-S10 classes A and R are rated 'AAA' by Fitch. The $6.8 million class M-1 certificates are rated `AA', the $2.5 million class M-2 certificates are rated 'A' and the $1.5 million class M-3 certificates are rated `BBB'.
Credit enhancement for the 'AAA' classes A and R senior certificates reflects subordination of the 2.00% class M-1, the 0.75% class M-2, the 0.45% class M-3, and the 0.70% privately offered class B certificates. Class M-1, M-2 and M-3 are rated `AA', `A', and `BBB' based on their respective subordination. Fitch believes the above credit enhancement will be adequate to support mortgagor defaults as well as bankruptcy, fraud and special hazard losses in limited amounts. In addition, the ratings reflect the quality of the mortgage collateral, strength of the legal and financial structures, and Residential Funding Corp.'s (RFC) servicing capabilities as master servicer.
The collateral consists of conventional, fully amortizing, 20- to 30-year fixed-rate, mortgage loans secured by first liens on one- to four-family residential properties. The mortgage pool demonstrates a weighted average original loan-to-value ratio (OLTV) of 74.61%. Approximately 64.09% and 7.73% of the mortgage loans possess FICO Scores greater than or equal to 720 and less than 660, respectively. Loans originated under a reduced loan documentation program account for approximately 8.68% of ...
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Source: HighBeam Research, RFMSI $337.3MM Mtge P-T Ctfs Ser 2000-S10 Rated By Fitch.