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Fitch Rates CWALT Pass-Through Trust 2008-IO/PO
NEW YORK-(Business Wire)-May 6, 2008 - CWALT Pass-Through Trust 2008-IO/PO is rated by Fitch Ratings as follows:
—$7,453,297,811 (notional) class IO-FM 'AAA';
—$24,146,691,259 (notional) class IO-FS 'AAA';
—$22,780,141 class PO-FM 'AAA';
—$30,884,905 class PO-FS 'AAA'.
Class IO-FM of this transaction is a resecuritization of 40 interest-only senior residential mortgage pass-through certificates (securities listed in Exhibit A) which represents beneficial ownership interest in a pool of primarily one- to four-family, first lien residential mortgage loans. As a resecuritization, the certificates will receive their cash-flow from the underlying classes of certificates.
Class IO-FS of this transaction is a resecuritization of 108 interest-only senior residential mortgage pass-through certificates (securities listed in Exhibit B) which represents beneficial ownership interest in a pool of primarily one- to four-family, first lien residential mortgage loans. As a resecuritization, the certificates will receive their cash-flow from the underlying classes of certificates.
Class PO-FM of this transaction is a resecuritization of 18 principal-only senior residential mortgage pass-through certificates (securities listed in Exhibit C) which represents beneficial ownership interest in a pool of primarily one- to four-family, first lien residential mortgage loans. As a resecuritization, the certificates will receive their cash-flow from the underlying classes of certificates.
Class PO-FS of this transaction is a resecuritization of 31 principal-only senior residential mortgage pass-through certificates (securities listed in Exhibit D) which represents beneficial ownership interest in a pool of primarily one- to four-family, first lien residential mortgage loans. As a resecuritization, the certificates will receive their cash-flow from the underlying classes of certificates.
Interest-Only (IO) certificates are extremely sensitive to voluntary and involuntary prepayments, which the rating on the securities does not address. If voluntary and involuntary prepayments are faster than anticipated, investors may fail to recover their initial investment.
Principal-Only (PO) certificates are extremely sensitive to prepayments, which the rating on the securities does not address. If prepayments are slower than anticipated, investors' yields may be adversely affected. The rating on PO certificates only addresses the return of the principal balances thereof.
Exhibit A
CWALT 2005-57CB 1X
CWALT 2005-57CB 3X
CWALT 2005-57CB 4X
CWALT 2005-67CB X
CWALT 2005-83CB X
CWALT 2006-12CB X
CWALT 2006-16CB X
CWALT 2006-24CB X
CWALT 2006-25CB X
CWALT 2006-2CB X
CWALT 2006-33CB 1X
CWALT 2006-33CB 2X
CWALT 2006-41CB 1X
CWALT 2006-41CB 2X
CWALT 2006-46 X
CWHL 2003-10 X
CWHL 2003-11 X
CWHL 2003-7 X
CWHL 2004-J1 1X
CWHL 2004-J1 2X
CWHL 2004-J1 3X
CWHL 2004-J2 X
CWHL 2004-J3 X
CWHL 2004-J5 X
CWHL 2004-J6 1X
CWHL 2004-J6 3X
CWHL 2005-27 2X
CWHL 2005-J2 2X
CWHL 2005-J2 3X
CWHL 2005-J4 X
CWHL 2006-11 X
CWHL 2006-13 X
CWHL 2006-6 X
CWHL 2006-8 2X
CWHL 2006-8 3X
CWHL 2006-J1 1X
CWHL 2006-J1 2X
CWHL 2006-J1 3X
CWHL 2006-J4 X
CWHL 2007-19 2X
Exhibit B
CWALT 2003-4CB 2A2
CWALT 2004-J10 XA
CWALT 2004-J10 XC
CWALT 2004-J2 6X
CWALT 2005-74T1 X
CWALT 2005-77T1 1X
CWALT 2005-77T1 2X
CWALT 2006-17T1 X
CWALT 2006-20CB X
CWALT 2006-26CB X
CWALT 2006-29T1 1X
CWALT 2006-29T1 2X
CWALT 2006-29T1 3X
CWALT 2006-35CB X
CWALT 2006-36T2 1X
CWALT 2006-36T2 2X
CWALT 2006-39CB 1X
CWALT 2006-39CB 2X
CWALT 2006-40T1 1X
CWALT 2006-40T1 2X
CWALT 2006-42 1X
CWALT 2006-42 2X
CWALT 2006-43CB 1X
CWALT 2006-43CB 2X
CWALT 2006-43CB 3X
CWALT 2006-45T1 2X
CWALT 2006-9T1 X
CWALT 2006-J3 1X
CWALT 2006-J3 2X
CWALT 2006-J3 3X
CWALT 2007-11T1 X
CWALT 2007-12T1 X
CWALT 2007-17CB 1X
CWALT 2007-18CB 1X
CWALT 2007-18CB 2X
CWALT 2007-19 1X
CWALT 2007-19 2X
CWALT 2007-1T1 1X
CWALT 2007-1T1 2X
CWALT 2007-20 X
CWALT 2007-25 1X
CWALT 2007-25 2X
CWALT 2007-3T1 1X
CWALT 2007-3T1 2X
CWALT 2007-4CB 1X
CWALT 2007-5CB 1X
CWALT 2007-5CB 2X
CWALT 2007-9T1 1X
CWALT 2007-9T1 2X
CWALT 2007-9T1 3X
CWALT 2007-J1 X
CWHL 2002-25 1X
CWHL 2002-25 2X
CWHL 2002-32 1X
CWHL 2002-32 3X
CWHL 2003-J1 1X
CWHL 2003-J1 2X
CWHL 2003-J13 1X
CWHL 2003-J15 2X
CWHL 2003-J15 3X
CWHL 2003-J2 X
CWHL 2003-J3 1X
CWHL 2003-J3 2X
CWHL 2003-J4 1X
CWHL 2003-J4 2X
CWHL 2003-J6 2X
CWHL 2003-J7 1X
CWHL 2003-J7 2X
CWHL 2003-J7 3X
CWHL 2003-J7 4X
CWHL 2003-J8 1X
CWHL 2003-J8 2X
CWHL 2004-J7 1X
CWHL 2004-J8 2X
CWHL 2004-J8 3X
CWHL 2004-J9 XA
CWHL 2004-J9 XB
CWHL 2005-30 X
CWHL 2005-J3 X
CWHL 2006-1 X
CWHL 2006-10 1X
CWHL 2006-10 2X
CWHL 2006-16 2X
CWHL 2006-16 3X
CWHL 2006-17 X
CWHL 2006-18 1X
CWHL 2006-9 X
CWHL 2006-J2 X
CWHL 2006-J3 X
CWHL 2007-10 X
CWHL 2007-12 X
CWHL 2007-13 X
CWHL 2007-15 1X
CWHL 2007-15 2X
CWHL 2007-16 X
CWHL 2007-17 1X
CWHL 2007-17 2X
CWHL 2007-17 3X
CWHL 2007-17 4X
CWHL 2007-18 1X
CWHL 2007-18 2X
CWHL 2007-19 1X
CWHL 2007-20 X
CWHL 2007-21 1X
CWHL 2007-21 2X
CWHL 2007-6 X
CWHL 2007-7 X
CWHL 2007-9 X
Exhibit C
CWHL 2002-34 PO
CWHL 2003-18 PO
CWHL 2003-24 PO
CWHL 2003-3 PO
CWHL 2003-34 PO
CWHL 2003-39 PO
CWHL 2003-41 PO
CWHL 2003-44 PO
CWHL 2003-57 PO
CWHL 2004-1 PO
CWHL 2004-13 PO
CWHL 2004-18 PO
CWHL 2004-19 PO
CWHL 2004-21 PO
CWHL 2004-24 PO
CWHL 2004-4 PO
CWHL 2004-8 PO
CWHL 2004-9 PO
Exhibit D
CWALT 2003-11T1 PO
CWALT 2003-12CB PO
CWALT 2003-13T1 PO
CWALT 2003-14T1 PO
CWALT 2003-16T1 PO
CWALT 2003-20CB PO
CWALT 2003-21T1 PO
CWALT 2003-22CB PO
CWALT 2003-7T1 PO
CWALT 2003-8CB PO
CWALT 2003-9T1 PO
CWALT 2004-14T2 PO
CWALT 2004-1T1 PO
CWALT 2004-20T1 PO
CWALT 2004-26T1 PO
CWALT 2004-29CB PO
CWALT 2004-34T1 PO
CWALT 2004-35T2 PO
CWALT 2004-7T1 PO
CWALT 2004-9T1 PO
CWHL 2002-31 PO
CWHL 2002-38 PO
CWHL 2002-J4 PO
CWHL 2003-15 PO
CWHL 2003-20 PO
CWHL 2003-35 PO
CWHL 2003-40 PO
CWHL 2003-8 PO
CWHL 2003-J6 PO
CWHL 2003-J7 PO
CWHL 2004-10 PO
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.
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