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Updated Call Rights Spreadsheet – January 2017

We have updated our Call Rights Spreadsheet (aka Option Termination) to reflect the January 2017 remittance data and made the following 4 updates that we believe are quite valuable. As we rely on the prospectus supplement for our information, there always exists the possibility that the Pooling and Servicing Agreement could override our information. Please let us know if you disagree with any of the data. Have a great weekend.

Update #1

As RFC deals are the most common deals to be called, we completely populated the owner of the cleanup call rights for the 378 RFC deals outstanding. For most RFC shelf deals, the master servicer owns the optional call rights. For a few deals, Residential Funding Corp or its designee owns the optional call rights.

Update #2

Over the past 6 months, an individual group was called within 3 different RFC deals. These were: RAMP 2003-RS7 Group 1, RAMP 2004-RS6 Group 1, and RASC 2003-KS11 Group 1. In certain RFC deals, a single loan group or a combination of two loan groups are eligible to be called. For the 378 RFC deals, we now distinguish whether the call rights are at the deal level or the pool level. We discovered 71 RFC deals where the call rights are at the group level. An additional sheet was added isolating these deal groups.

Update #3

Updated the Historical Call Rights sheet that shows in detail all deals or deal-groups called since January 2010. We depend on CoreLogic LoanPerformance for this information, so any deals not tracked by LoanPerformance are excluded.

Update #4

Updated the Call Potential 2017 Summary and Detail sheets. We slightly modified our criteria for “Similar Stats” to now be: WAC >= 5%, %MBA Current >= 70%, %FRM or Mod >= 80%. We have seen a few called deals with %MBA Current in the 70% range, so we lowered that criteria from 80% to 70%.

Contact us at 203-276-0672 to become a client and access all reports and attachments.

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