Rating Residential Morgage-Backed Trusts

January 10, 2013

This article was originally published in Lynn Szymoniak’s publication, ‘Fraud Digest,’ and is republished here as a resource for those interested in foreclosures and document fraud.

By Lisa Epstein and Lynn E. Szymoniak, Esq.

What is left in residential mortgage-backed trusts?  Investors, those with retirement plans tied to pension funds invested in mortgage-backed trusts, citizens from cities and counties that are heavily invested in mortgage-backed trusts and economy watchers in general are asking that question as conflicting data on foreclosures continues to be reported.

There is an alternative to ratings assigned by industry-owned rating companies. Assign your own rating.  The chart below provides some basic information on three very popular series of trusts: American Home Mortgage Assets Trusts, American Home Mortgage Investment Trusts and Soundview Home Loan Trusts.

Data from 37 of these trusts is reported below.

Of the 37 trusts, Soundview Home Loan Trust 2007-OPT5 had the highest percentage of performing loans remaining in the trust: 38%. American Home Mortgage Assets Trust 2005-2 had the lowest percentage of performing loans remaining in the trust: 10.5%.

 

Of the 37 trusts, 18 had 25% or less of performing loans remaining.

 

Of the 37 trusts, 8 had 26% – 30% of performing loans remaining.

 

Of the 37 trusts, 11 had 31% – 38% of performing loans remaining.

 

There were a combined total of 228,203 loans in these trusts at inception.

 

As of November, 2011, there were a combined total of 51,798 (22.7%) performing loans in these trusts.

 

The combined collateral value of the loans in these trusts at inception was over $61 Billion:  $61,441,128,225.

 

The data was taken from the investor reports for each trust.

 

COMING SOON: RATING COUNTRYWIDE TRUSTS

 

 

AMERICAN HOME MORTGAGE ASSETS TRUSTS & TRUSTEES

 

AHM Assets Trust, 2005-1 (Deutsche)

Original # loans:  2,166

Original Collateral Value: $797,994,862

Loans Remaining: 323

Non-performing loans remaining: 81

Performing loans remaining: 242 – 11% of original

 

AHM Assets Trust, 2005-2 (Deutsche)

Original # loans:  1,467

Original Collateral Value: $563,424,121

Loans Remaining: 195

Non-performing loans remaining: 41

Performing loans remaining: 154 – 10.5% of original

 

AHM Assets Trust, 2006-1 (Deutsche)

Original # loans:  2,889

Original Collateral Value: $1,126,157,063

Loans Remaining: 1,037

Non-performing loans remaining: 345

Performing loans remaining: 692 – 24% of original

 

AHM Assets Trust, 2006-2 (Deutsche)

Original # loans:  3,022

Original Collateral Value: $1,206,537,988

Loans Remaining: 1,117

Non-performing: 359

Performing: 758 – 25% of original

 

AHM Assets Trust, 2006-3 (Citibank)

Original # loans:  4,376

Original Collateral Value: $1,690,839,857

Loans Remaining: 1,903

Non-performing: 684

Performing: 1,219 – 28% of original

 

AHM Assets Trust, 2006-4 (Citibank)

Original # loans:  3,966

Original Collateral Value: $1,514,539,849

Loans Remaining: 1,720

Non-performing: 293

Performing: 1,427 – 36% of original

 

AHM Assets Trust, 2006-5 (Deutsche)

Original # loans:  3,950

Original Collateral Value: $1,528,015,387

Loans Remaining: 1,728

Non-performing: 562

Performing: 1,166 – 30% of original

 

AHM Assets Trust, 2007-1 (Deutsche)

Original # loans:  3,831

Original Collateral Value: $1,505,808,822

Loans Remaining: 1,782

Non-performing: 612

Performing: 1,170 – 31% of original

 

AHM Assets Trust, 2007-2 (Deutsche)

Original # loans:  4,561

Original Collateral Value: $1,742,877,753

Loans Remaining: 2,192

Non-performing: 781

Performing: 1,411 – 31% of original

 

AHM Assets Trust, 2007-3 (Deutsche)

Original # loans:  6,291

Original Collateral Value: $1,225,384,098

Loans Remaining: 2,469

Non-performing: 940

Performing: 1,529 – 24% of original

 

AHM Assets Trust, 2007-4 (Deutsche)

Original # loans:  979

Original Collateral Value: $362,979,774

Loans Remaining: 522

Non-performing: 187

Performing: 335 – 34% of original

 

AHM Assets Trust, 2007-5 (Deutsche)

Original # loans:  2,212

Original Collateral Value: $776,597,903

Loans Remaining: 1,240

Non-performing: 416

Performing: 824 – 37% of original

 

 

 

AMERICAN HOME MORTG. INVESTMENT TRUSTS & TRUSTEES

 

AHM Investment Trust, 2004-1 (Wells Fargo)

Original # loans:  2,298

Original Collateral Value:  $612,421,500

Loans Remaining: 198

Non-performing: 28

Performing: 170 – 14% of original

 

AHM Investment Trust, 2004-2 (Wells Fargo)

Original # loans:  5,123

Original Collateral Value: $1,394,859,289

Loans Remaining: 753

Non-performing: 108

Performing: 645 – 13% of original

 

AHM Investment Trust, 2004-3 (Citibank)

Original # loans:  3,966

Original Collateral Value: $2,337,611,000

Loans Remaining: 1,720

Non-performing: 592

Performing: 1,128 – 28% of original

 

AHM Investment Trust, 2005-1 (Deutsche)

Original # loans:  17,570

Original Collateral Value: $3,841,545,000

Loans Remaining: 4,306

Non-performing: 741

Performing: 3,565 – 20% of original

 

AHM Investment Trust, 2005-2 (Deutsche)

Original # loans:  25,934

Original Collateral Value: $5,778,151,000

Loans Remaining: 7,453

Non-performing: 1,319

Performing: 6,134 – 24% of original

 

AHM Investment Trust, 2005-3 (Deutsche)

Original # loans:  2,621

Original Collateral Value: $736,973,839

Loans Remaining: 863

Non-performing: 181

Performing: 682 – 26% of original

 

AHM Investment Trust, 2005-4 (U.S. Bank)

Original # loans:  10,708

Original Collateral Value: $2,648,516,000

Loans Remaining: 3,211

Non-performing: 735

Performing: 2,476 – 23% of original

 

AHM Investment Trust, 2006-1 (Deutsche)

Original # loans:  5,200

Original Collateral Value: $1,973,444,339

Loans Remaining: 1,766

Non-performing: 548

Performing: 1,218 – 23% of original

 

AHM Investment Trust, 2006-2 (Deutsche)

Original # loans:  6,589

Original Collateral Value: $965,174,822

Loans Remaining: 1,652

Non-performing: 323

Performing: 1,329 – 20% of original

 

AHM Investment Trust, 2006-3 (Deutsche)

Original # loans:  7,182

Original Collateral Value: $1,739,486,065

Loans Remaining: 2,800

Non-performing: 723

Performing: 2,077 – 29% of original

 

AHM Investment Trust, 2007-1 (Deutsche)

Original # loans:  5,336

Original Collateral Value: $3,727,138,479

Loans Remaining: 2,679

Non-performing: 1,008

Performing: 1,671 – 31% of original

 

AHM Investment Trust, 2007-2 (Deutsche)

Original # loans:  5,944

Original Collateral Value: $1,102,255,344

Loans Remaining: 2,281

Non-performing: 554

Performing: 1,727 – 20% of original

 

 

 

SOUNDVIEW HOME LOAN “OPT” TRUSTS & TRUSTEES

 

Soundview Home Loan Trust, 2005-OPT1 (Deutsche)

Original # loans:  8,036

Original Collateral Value: $ 1,500,000,000

Loans Remaining: 1,329

Non-performing: 462

Performing: 867 – 17% of original

 

Soundview Home Loan Trust, 2005-OPT2 (Deutsche)

Original # loans:  5,535

Original Collateral Value: $1,035,488,782

Loans Remaining: 1,106

Non-performing: 381

Performing: 725 – 20% of original

 

Soundview Home Loan Trust, 2005-OPT3 (Deutsche)

Original # loans:  7,722

Original Collateral Value: $1,545,654,056

Loans Remaining: 2,078

Non-performing: 680

Performing: 1,398 – 27% of original

 

Soundview Home Loan Trust, 2005-OPT4 (Deutsche)

Original # loans:  8,095

Original Collateral Value: $1,559,051,934

Loans Remaining: 2,066

Non-performing: 673

Performing: 1,393 – 26% of original

 

Soundview Home Loan Trust, 2006-OPT2 (Deutsche)

Original # loans:  8,050

Original Collateral Value: $1,600,000,003

Loans Remaining: 2,011

Non-performing: 773

Performing: 1,238 – 25% of original

 

Soundview Home Loan Trust, 2006-OPT3 (Deutsche)

Original # loans:  10,365

Original Collateral Value: 2,000,000,025

Loans Remaining: 2,756

Non-performing: 1051

Performing: 1,705 – 27% of original

 

Soundview Home Loan Trust, 2006-OPT4 (Deutsche)

Original # loans:  5,459

Original Collateral Value: $1,000,000,031

Loans Remaining: 1,548

Non-performing: 615

Performing: 933 – 17% of original

 

Soundview Home Loan Trust, 2006-OPT5 (Deutsche)

Original # loans:  15,846

Original Collateral Value: $3,099,999,734

Loans Remaining: 4,650

Non-performing: 1,849

Performing: 2,801 – 18% of original

 

Soundview Home Loan Trust, 2007-OPT1 (Wells Fargo)

Original # loans:  10,818

Original Collateral Value: 4,554,183,205

Loans Remaining: 5,338

Non-performing: 1,959

Performing: 3,379 – 31% of original

 

Soundview Home Loan Trust, 2007-OPT2 (Wells Fargo)

Original # loans:  2,200

Original Collateral Value: $562,080,116

Loans Remaining: 1,226

Non-performing: 465

Performing: 761 – 34.5% of original

 

Soundview Home Loan Trust, 2007-OPT3 (Wells Fargo)

Original # loans:  2,155

Original Collateral Value: 565,259,216

Loans Remaining: 1,187

Non-performing: 445

Performing: 742 – 34% of original

 

Soundview Home Loan Trust, 2007-OPT4 (Wells Fargo)

Original # loans: 1,826

Original Collateral Value: 495,100,045

Loans Remaining: 1,053

Non-performing: 419

Performing:  634 – 35% of original

 

 

 

Soundview Home Loan Trust, 2007-OPT5 (Wells Fargo)

Original # loans: 3,915

Original Collateral Value: $1,025,576,924

Loans Remaining:  2,345

Non-performing: 872

Performing: 1,473 – 38% of original