Fitch Rates Banc of America Funding 2009-R11 Trust
NEW YORK-(Business Wire)-September 29, 2009 - Fitch rates Banc of America Funding 2009-R11 Trust, as follows:
—$57,603,239 class A-1 'AAA', Outlook Stable.
This transaction consists of one group. The group is a resecuritization of ownership interest in certain mortgage-backed certificates. As a resecuritization, the certificates will receive their cash flows from the underlying classes of certificates. The underlying certificates are backed by conventional Prime first-lien mortgage loans.
The Fitch-rated group represents an approximate 23.60% interest in the Wells Fargo Mortgage Backed Securities 2005-AR2 Trust, class III-A-1 certificates. Credit enhancement for the A-1 certificates is provided by the structural support on the underlying transaction and the 11.06% class A-2 certificates.
The underlying collateral and cash flow structure were analyzed according to Fitch's 'U.S. Residential Mortgage Re-REMIC,' 'ResiLogic: U.S. Residential Mortgage Loss Model' and 'U.S. RMBS Cash Flow Analysis' criteria.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, 'www.fitchratings.com'. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.
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