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Rating Action:

Moody's downgrades $2.7 billion of Fixed-Rate Alt-A RMBS issued by Residential Asset Securitization Trust in 2006 and 2007

12 Nov 2010

New York, November 12, 2010 -- Moody's Investors Service has downgraded the ratings of 139 tranches and upgraded 1 tranches from 15 RMBS transactions issued by Residential Asset Securitization Trust. The collateral backing these deals primarily consists of first-lien, mostly adjustable-rate Alt-A residential mortgages.

RATINGS RATIONALE

The actions are a result of the continued performance deterioration in Alt-A pools in conjunction with home price and unemployment conditions that remain under duress. The actions reflect Moody's updated loss expectations on Alt-A pools issued from 2005 to 2007.

To assess the rating implications of the updated loss levels on Alt-A RMBS, each individual pool was run through a variety of scenarios in the Structured Finance Workstation® (SFW), the cash flow model developed by Moody's Wall Street Analytics. This individual pool level analysis incorporates performance variances across the different pools and the structural features of the transaction including priorities of payment distribution among the different tranches, average life of the tranches, current balances of the tranches and future cash flows under expected and stressed scenarios. The scenarios include ninety-six different combinations comprising of six loss levels, four loss timing curves and four prepayment curves. The volatility in losses experienced by a tranche due to small increments in losses on the underlying mortgage pool is taken into consideration when assigning ratings.

In addition to adjustments to reflect updated loss expectations, the ratings of two senior tranches in Residential Asset Securitization Trust 2006-A8 are being adjusted to reflect certain omissions in the transaction documents. The prospectus supplement designates Class 2-A-5 as a super senior tranche that is supported by Class 2-A-8. However, the allocation of loss language in both the prospectus supplement and the Pooling and Servicing Agreement allows for only pro-rata loss allocation to the tranches. In this transaction subordination has been depleted and the Trustee is allocating losses pro-rata to both the bonds. Our ratings for the Class 2-A-5 and Class 2-A-8 tranches, previously viewed as super senior and super senior support tranches, respectively, have been adjusted to reflect this pro-rata structure.

The principal methodology used in these ratings were "Alt-A RMBS Loss Projection Update: February 2010" published in February 2010.

In addition, for the deals affected by today's actions, when calculating the rate of new delinquencies (as described on page 4 of the methodology publication referenced above), Moody's took into account loans that were reclassified from delinquent to current due to modification in order to not understate the rate of new delinquencies.

In addition, Moody's publishes a weekly summary of structured finance credit, ratings and methodologies, available to all registered users of our website, at www.moodys.com/SFQuickCheck.

The above mentioned approach "Alt-A RMBS Loss Projection Update: February 2010" is adjusted slightly when estimating losses on pools left with a small number of loans. To project losses on pools with fewer than 100 loans, Moody's first estimates a "baseline" average rate of new delinquencies for the pool that is dependent on the vintage of loan origination (10%, 19% and 21% for the 2005, 2006 and 2007 vintage respectively). This baseline rate is higher than the average rate of new delinquencies for the vintage to account for the volatile nature of small pools. Even if a few loans in a small pool become delinquent, there could be a large increase in the overall pool delinquency level due to the concentration risk. Once the baseline rate is set, further adjustments are made based on 1) the number of loans remaining in the pool and 2) the level of current delinquencies in the pool. The fewer the number of loans remaining in the pool, the higher the volatility and hence the stress applied. Once the loan count in a pool falls below 75, the rate of delinquency is increased by 1% for every loan less than 75. For example, for a pool with 74 loans from the 2005 vintage, the adjusted rate of new delinquency would be 10.10%. If current delinquency levels in a small pool is low, future delinquencies are expected to reflect this trend. To account for that, the rate calculated above is multiplied by a factor ranging from 0.2 to 2.0 for current delinquencies ranging from less than 2.5% to greater than 50% respectively. Delinquencies for subsequent years and ultimate expected losses are projected using the approach described in the methodology publication.

The primary source of assumption uncertainty is the current macroeconomic environment, in which unemployment remains at high levels, and weakness persists in the housing market. Moody's notes an increasing potential for a double-dip recession, which could cause a further 20% decline in home prices (versus its baseline assumption of roughly 5% further decline). Overall, Moody's assumes a further 5% decline in home prices with stabilization in early 2011, accompanied by continued stress in national employment levels through that timeframe.

A list of updated estimated pool losses, sensitivity analysis, and tranche recovery details is being posted on an ongoing basis for the duration of this review period and may be found at:

Excel: http://v3.moodys.com/page/viewresearchdoc.aspx?docid=PBS_SF198174

For more information please see www.moodys.com.

Moody's Investors Service did not receive or take into account a third-party due diligence report on the underlying assets or financial instruments related to the monitoring of this transaction in the past six months.

Complete rating actions are as follows:

Issuer: Residential Asset Securitization Trust 2006-A1

Cl. 1-A-1, Downgraded to Caa2 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-2, Downgraded to C (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-3, Downgraded to Caa2 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-4, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-5, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-6, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-7, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-8, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-1, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-1, Downgraded to Caa2 (sf); previously on Jan 14, 2010 B3 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-2, Downgraded to Caa2 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-3, Downgraded to Caa2 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-4, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. PO, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-X, Downgraded to Caa2 (sf); previously on Jan 14, 2010 B3 (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2006-A11

Cl. 1-A-1, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-2, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-3, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-4, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-5, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-7, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-X, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 1-PO, Confirmed at Caa3 (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-1, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-2, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-3, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-1, Confirmed at Ca (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2006-A14CB

Cl. 1-A-1, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-2, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-3, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-2, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-1, Confirmed at Ca (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-3, Confirmed at Ca (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-4, Confirmed at Ca (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-6, Confirmed at Ca (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-7, Confirmed at Ca (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. PO, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-X, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2006-A15

Cl. A-10, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2006-A2

Cl. A-1, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-2, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-3, Downgraded to Caa2 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. A-4, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-5, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-6, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-7, Downgraded to Caa2 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. A-8, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-9, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-10, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-11, Downgraded to Caa2 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. A-X, Downgraded to Caa2 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. PO, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2006-A3CB

Cl. A-1, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-X, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. PO, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2006-A4IP

Cl. 1-A-1, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-1, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-2, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-3, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-4, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-5, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-6, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-7, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-8, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-9, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-10, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-PO, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-X, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2006-A5CB

Cl. A-1, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-2, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-3, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-4, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-5, Downgraded to C (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. A-6, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-7, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-X, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. PO, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2006-A6

Cl. 1-A-1, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-2, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-3, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-4, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-5, Downgraded to C (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-6, Downgraded to C (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-7, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-8, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-9, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-10, Downgraded to C (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-11, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-12, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-13, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-14, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-1, Downgraded to Caa2 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-2, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-3, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-4, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-5, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-6, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-7, Downgraded to Caa2 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-8, Downgraded to Caa2 (sf); previously on Jan 14, 2010 Caa1 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-9, Downgraded to C (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-10, Downgraded to C (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-11, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-12, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-13, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. PO, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2006-A7CB

Cl. 1-A-1, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-2, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-3, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-4, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-5, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-6, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-1, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-2, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-3, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-4, Downgraded to C (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-5, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-6, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-7, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-1, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-2, Downgraded to C (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. A-X, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. PO, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2006-A8

Cl. 1-A-1, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-2, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-3, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-4, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 1-A-5, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-1, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-2, Confirmed at Ca (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-3, Confirmed at Ca (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-4, Confirmed at Ca (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-5, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-6, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-7, Confirmed at Ca (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-8, Upgraded to Ca (sf); previously on Jan 29, 2009 Downgraded to C (sf)

Cl. 3-A-1, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-2, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-3, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-4, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-5, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-7, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-8, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-9, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-10, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 3-A-11, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. PO, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2006-A9CB

Cl. A-1, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. A-2, Downgraded to C (sf); previously on Jan 14, 2010 Ca (sf) Placed Under Review for Possible Downgrade

Cl. A-3, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. A-4, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. A-5, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. A-6, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. A-7, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. A-8, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. A-9, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. A-10, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. A-11, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. A-12, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. A-X, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Cl. PO, Downgraded to Ca (sf); previously on Jan 14, 2010 Caa3 (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2007-A1

Cl. A-1, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. A-3, Downgraded to Caa3 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Issuer: Residential Asset Securitization Trust 2007-A5

Cl. 2-A-3, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

Cl. 2-A-5, Confirmed at Caa2 (sf); previously on Jan 14, 2010 Caa2 (sf) Placed Under Review for Possible Downgrade

A list of these actions including CUSIP identifiers may be found at:

Excel: http://v3.moodys.com/viewresearchdoc.aspx?docid=PBS_SF225842

REGULATORY DISCLOSURES

Information sources used to prepare the credit rating are the following: parties involved in the ratings, parties not involved in the ratings, public information, confidential and proprietary Moody's Investors Service information, and confidential and proprietary Moody's Analytics information.

Moody's Investors Service considers the quality of information available on the issuer or obligation satisfactory for the purposes of maintaining a credit rating.

Moody's adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources Moody's considers to be reliable including, when appropriate, independent third-party sources. However, Moody's is not an auditor and cannot in every instance independently verify or validate information received in the rating process.

Please see ratings tab on the issuer/entity page on Moodys.com for the last rating action and the rating history.

The date on which some Credit Ratings were first released goes back to a time before Moody's Investors Service's Credit Ratings were fully digitized and accurate data may not be available. Consequently, Moody's Investors Service provides a date that it believes is the most reliable and accurate based on the information that is available to it. Please see the ratings disclosure page on our website www.moodys.com for further information.

Please see the Credit Policy page on Moodys.com for the methodologies used in determining ratings, further information on the meaning of each rating category and the definition of default and recovery.

New York
Minxi Qiu
Associate Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

New York
Amita Shrivastava
Vice President - Senior Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Moody's Investors Service
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New York, NY 10007
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Moody's downgrades $2.7 billion of Fixed-Rate Alt-A RMBS issued by Residential Asset Securitization Trust in 2006 and 2007
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