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Rating Action:

Moody's withdraws $122 million of Pre-2005 RMBS issued between 1996 and 2004

22 Jan 2013

New York, January 22, 2013 -- Moody's Investors Service has withdrawn the ratings of 93 tranches from 18 pre-2005 RMBS transactions issued between 1996 and 2004. The tranches are backed by pools of mortgage loans containing fewer than 40 loans and with pool factors less than 5%.

Complete rating actions are as follows:

Issuer: ABN AMRO Mortgage Corporation, Multi-Class Pass-Through Certificates, Series 2002-9

Cl. A-4, Withdrawn (sf); previously on Dec 19, 2002 Assigned Aaa (sf)

Cl. A-30, Withdrawn (sf); previously on Dec 19, 2002 Assigned Aaa (sf)

Cl. A-P, Withdrawn (sf); previously on Dec 19, 2002 Assigned Aaa (sf)

Cl. A-X, Withdrawn (sf); previously on Apr 19, 2012 Confirmed at Ba3 (sf)

Cl. B-1, Withdrawn (sf); previously on Apr 19, 2012 Downgraded to Baa1 (sf)

Cl. B-2, Withdrawn (sf); previously on Apr 19, 2012 Downgraded to Ba2 (sf)

Cl. B-3, Withdrawn (sf); previously on Apr 19, 2012 Downgraded to B1 (sf)

Cl. M, Withdrawn (sf); previously on Apr 19, 2012 Downgraded to Aa3 (sf)

Issuer: ABN AMRO Mortgage Corporation, Multi-Class Pass-Through Certificates, Series 2003-4

Cl. A-4, Withdrawn (sf); previously on Dec 4, 2012 Downgraded to Aa2 (sf)

Cl. A-22, Withdrawn (sf); previously on Dec 4, 2012 Downgraded to A1 (sf)

Cl. A-P, Withdrawn (sf); previously on Dec 4, 2012 Downgraded to A1 (sf)

Cl. A-X, Withdrawn (sf); previously on Feb 22, 2012 Downgraded to Ba3 (sf)

Cl. M, Withdrawn (sf); previously on Dec 4, 2012 Downgraded to Baa2 (sf)

Cl. B-1, Withdrawn (sf); previously on Dec 4, 2012 Downgraded to B1 (sf)

Cl. B-2, Withdrawn (sf); previously on Dec 4, 2012 Downgraded to Caa2 (sf)

Issuer: Banc of America Mortgage 2002-L Trust

Cl. 1-A-1, Withdrawn (sf); previously on May 11, 2012 Confirmed at Ba2 (sf)

Cl. 1-A-2, Withdrawn (sf); previously on May 11, 2012 Confirmed at Ba2 (sf)

Cl. 1-A-3, Withdrawn (sf); previously on May 11, 2012 Confirmed at Ba2 (sf)

Cl. 2-A-1, Withdrawn (sf); previously on May 11, 2012 Confirmed at Ba1 (sf)

Cl. 3-A-1, Withdrawn (sf); previously on Apr 25, 2011 Downgraded to Aa3 (sf)

Cl. 2-A-P, Withdrawn (sf); previously on Apr 25, 2011 Downgraded to B1 (sf)

Cl. 3-A-P, Withdrawn (sf); previously on Apr 25, 2011 Downgraded to Baa2 (sf)

Cl. 2-A-2, Withdrawn (sf); previously on May 11, 2012 Confirmed at Ba1 (sf)

Cl. 2-A-3, Withdrawn (sf); previously on May 11, 2012 Confirmed at Ba1 (sf)

Cl. 2-A-4, Withdrawn (sf); previously on May 11, 2012 Confirmed at Ba2 (sf)

Issuer: Banc of America Mortgage 2003-A Trust

Cl. 1-A-1, Withdrawn (sf); previously on Apr 25, 2011 Confirmed at Aaa (sf)

Cl. 3-A-1, Withdrawn (sf); previously on Apr 25, 2011 Downgraded to A1 (sf)

Cl. 4-A-1, Withdrawn (sf); previously on Apr 25, 2011 Confirmed at Aaa (sf)

Cl. 2-A-1, Withdrawn (sf); previously on Apr 25, 2011 Downgraded to Ba2 (sf)

Cl. 2-A-2, Withdrawn (sf); previously on Apr 25, 2011 Downgraded to Ba2 (sf)

Cl. 2-A-7, Withdrawn (sf); previously on Apr 25, 2011 Downgraded to Ba2 (sf)

Cl. 2-A-8, Withdrawn (sf); previously on Apr 25, 2011 Downgraded to Ba2 (sf)

Cl. 2-A-9, Withdrawn (sf); previously on Apr 25, 2011 Downgraded to B1 (sf)

Cl. 4-A-P, Withdrawn (sf); previously on Apr 25, 2011 Confirmed at Aaa (sf)

Issuer: Banc of America Mortgage 2004-2 Trust

Cl. 5-A-1, Withdrawn (sf); previously on May 11, 2012 Downgraded to Ba1 (sf)

Cl. 5-A-IO, Withdrawn (sf); previously on May 11, 2012 Confirmed at Ba3 (sf)

Cl. 5-B-2, Withdrawn (sf); previously on May 11, 2012 Downgraded to Caa3 (sf)

Cl. 5-B-3, Withdrawn (sf); previously on May 11, 2012 Downgraded to Ca (sf)

Issuer: Bear Stearns ARM Trust 2002-11

Cl. I-A-2, Withdrawn (sf); previously on Jan 2, 2003 Assigned Aaa (sf)

Cl. I-A-3, Withdrawn (sf); previously on Jan 2, 2003 Assigned Aaa (sf)

Cl. I-A-1, Withdrawn (sf); previously on Jan 2, 2003 Assigned Aaa (sf)

Cl. I-M-1, Withdrawn (sf); previously on May 6, 2011 Downgraded to Baa1 (sf)

Cl. I-B-1, Withdrawn (sf); previously on May 6, 2011 Downgraded to B1 (sf)

Cl. I-B-2, Withdrawn (sf); previously on May 6, 2011 Downgraded to Caa2 (sf)

Cl. I-B-3, Withdrawn (sf); previously on May 6, 2011 Downgraded to Ca (sf)

Cl. I-B-4, Withdrawn (sf); previously on May 6, 2011 Downgraded to C (sf)

Issuer: CHL Mortgage Pass-Through Trust 2002-18

Cl. A-1, Withdrawn (sf); previously on Oct 21, 2002 Assigned Aaa (sf)

Cl. A-8, Withdrawn (sf); previously on Oct 21, 2002 Assigned Aaa (sf)

Cl. PO, Withdrawn (sf); previously on Oct 21, 2002 Assigned Aaa (sf)

Cl. A-9, Withdrawn (sf); previously on Sep 1, 2004 Upgraded to Aaa (sf)

Issuer: CHL Mortgage Pass-Through Trust 2002-21

Cl. A-1, Withdrawn (sf); previously on Apr 21, 2011 Downgraded to A2 (sf)

Cl. A-3, Withdrawn (sf); previously on Apr 21, 2011 Downgraded to A2 (sf)

Cl. A-PO, Withdrawn (sf); previously on Apr 21, 2011 Downgraded to A2 (sf)

Issuer: CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-AR2

Cl. VI-M-1, Withdrawn (sf); previously on May 24, 2012 Downgraded to Baa1 (sf)

Cl. VI-M-2, Withdrawn (sf); previously on Mar 18, 2011 Downgraded to Ca (sf)

Issuer: CWMBS, Inc. Mortgage Pass-Through Certificates, Series 2003-J12

Cl. A-1, Withdrawn (sf); previously on Jun 13, 2012 Downgraded to B1 (sf)

Cl. X, Withdrawn (sf); previously on Jun 13, 2012 Downgraded to B3 (sf)

Issuer: Impac CMB Trust Series 2003-4

Cl. 2-A-1, Withdrawn (sf); previously on Nov 17, 2008 Downgraded to A1 (sf)

Issuer: RFSC Series 2002-RM1 Trust

Cl. A-I-1, Withdrawn (sf); previously on May 2, 2012 Downgraded to A3 (sf)

Cl. A-I-2, Withdrawn (sf); previously on May 2, 2012 Downgraded to A3 (sf)

Cl. A-I-3, Withdrawn (sf); previously on May 2, 2012 Downgraded to A3 (sf)

Cl. AP-1, Withdrawn (sf); previously on May 2, 2012 Downgraded to A3 (sf)

Cl. AV-1, Withdrawn (sf); previously on May 2, 2012 Confirmed at Ba3 (sf)

Cl. M-I-1, Withdrawn (sf); previously on May 2, 2012 Downgraded to Baa1 (sf)

Cl. M-I-2, Withdrawn (sf); previously on May 2, 2012 Downgraded to Baa3 (sf)

Cl. M-I-3, Withdrawn (sf); previously on May 2, 2012 Downgraded to B2 (sf)

Cl. B-I-1, Withdrawn (sf); previously on Apr 22, 2011 Downgraded to Ca (sf)

Cl. B-I-2, Withdrawn (sf); previously on Sep 1, 2010 Downgraded to C (sf)

Issuer: WaMu Mortgage Pass-Through Certificates Series 2002-AR9

Cl. II-A, Withdrawn (sf); previously on Feb 28, 2011 Downgraded to Ba3 (sf)

Cl. II-B-1, Withdrawn (sf); previously on Feb 28, 2011 Downgraded to Caa3 (sf)

Cl. II-B-2, Withdrawn (sf); previously on Feb 28, 2011 Downgraded to C (sf)

Cl. II-B-3, Withdrawn (sf); previously on Feb 28, 2011 Downgraded to C (sf)

Cl. II-B-5, Withdrawn (sf); previously on Aug 4, 2009 Downgraded to C (sf)

Cl. II-B-4, Withdrawn (sf); previously on Feb 28, 2011 Downgraded to C (sf)

Issuer: Washington Mutual MSC 2003-MS6 Trust

Cl. I-A, Withdrawn (sf); previously on Jun 4, 2012 Confirmed at A2 (sf)

Cl. II-A, Withdrawn (sf); previously on Jun 4, 2012 Confirmed at A3 (sf)

Cl. C-X, Withdrawn (sf); previously on Jun 4, 2012 Confirmed at Ba3 (sf)

Cl. C-P, Withdrawn (sf); previously on Apr 25, 2011 Downgraded to A3 (sf)

Issuer: Wells Fargo Mortgage Backed Securities 2003-E Trust

Cl. A-1, Withdrawn (sf); previously on Apr 10, 2012 Downgraded to Ba3 (sf)

Cl. A-2, Withdrawn (sf); previously on Apr 10, 2012 Downgraded to Ba3 (sf)

Cl. A-3, Withdrawn (sf); previously on Apr 10, 2012 Downgraded to Ba3 (sf)

Cl. A-4, Withdrawn (sf); previously on Apr 10, 2012 Downgraded to B3 (sf)

Cl. A-WIO, Withdrawn (sf); previously on Apr 10, 2012 Confirmed at Ba3 (sf)

Issuer: Wells Fargo Mortgage Backed Securities 2003-F Trust

Cl. A-1, Withdrawn (sf); previously on Apr 10, 2012 Confirmed at Baa3 (sf)

Cl. B-1, Withdrawn (sf); previously on Apr 10, 2012 Confirmed at Caa1 (sf)

Cl. B-2, Withdrawn (sf); previously on Apr 18, 2011 Downgraded to Caa3 (sf)

Cl. B-3, Withdrawn (sf); previously on Apr 18, 2011 Downgraded to Ca (sf)

Issuer: DLJ Mtg Acpt Corp 1996-QB

B-1, Withdrawn (sf); previously on Mar 7, 2011 Downgraded to Caa3 (sf)

Issuer: Structured Asset Sec Corp 1996-4 (Norwest)

A, Withdrawn (sf); previously on May 10, 2012 Confirmed at Aa1 (sf)

B1, Withdrawn (sf); previously on May 10, 2012 Confirmed at A1 (sf)

B2, Withdrawn (sf); previously on Mar 7, 2011 Downgraded to Caa2 (sf)

B4, Withdrawn (sf); previously on Feb 27, 2003 Downgraded to C (sf)

B3, Withdrawn (sf); previously on Mar 7, 2011 Downgraded to Ca (sf)

RATINGS RATIONALE

Moody's current RMBS surveillance methodologies apply to pools with at least 40 loans and a pool factor of greater than 5%. As a result, Moody's may withdraw its rating when the pool factor drops below 5% and the number of loans in the pool declines to less than 40 unless specific structural features allow for a monitoring of the transaction (such as a credit enhancement floor).

Moody's has withdrawn the rating pursuant to published rating methodologies that allow for the withdrawal of the rating if the size of the underlying collateral pool at the time of the withdrawal has fallen below a specified level. Please refer to the Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.

The methodologies used in these ratings were "Moody's Approach to Rating US Residential Mortgage-Backed Securities" published in December 2008 and "Pre-2005 US RMBS Surveillance Methodology" published Jan 2012. Please see the Credit Policy page on www.moodys.com for a copy of these methodologies.

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

Excel: http://www.moodys.com/viewresearchdoc.aspx?docid=PBS_SF314585

REGULATORY DISCLOSURES

For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this rating action, and whose ratings may change as a result of this rating action, the associated regulatory disclosures will be those of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.

The below contact information is provided for information purposes only. Please see the ratings tab of the issuer page at www.moodys.com, for each of the ratings covered, Moody's disclosures on the lead analyst and the Moody's legal entity that has issued the ratings.

Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating.

Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for each credit rating.

Ilana?J?Fried
Associate Analyst
Structured Finance Group
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Deepika Kothari
Vice President - Senior Analyst
Structured Finance Group
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Releasing Office:
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Moody's withdraws $122 million of Pre-2005 RMBS issued between 1996 and 2004
No Related Data.
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