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Weekly U.S. RMBS Rating Action Recap For 2005, 2006 Vintages: Dec. 3-Dec. 7, 2007
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Publication Date:    Dec 11, 2007 10:58 EST

Weekly U.S. RMBS Rating Action Recap For 2005, 2006 Vintages: Dec. 3-Dec. 7, 2007
Primary Credit Analysts:
Ernestine Warner, New York (1) 212-438-2633;
ernestine_warner@standardandpoors.com
Andrew J Giudici, New York (1) 212-438-1659;
andrew_giudici@standardandpoors.com
Media Contact:
Adam M Tempkin, New York (1) 212-438-7530;
adam_tempkin@standardandpoors.com
Publication date: 11-Dec-07, 10:58:26 EST
Reprinted from RatingsDirect 


NEW YORK (Standard & Poor's) Dec. 11, 2007--During the week of Dec. 3-Dec. 7, 
2007, Standard & Poor's Ratings Services took no rating actions on 2005 and 
2006 vintage transactions backed by subprime, closed-end second-lien, or Alt-A 
loan collateral.
     To date this year, our rating actions on 2005 and 2006 vintage 
transactions backed by subprime, Alt-A, and second-lien collateral are as 
follows:
     -- We have downgraded 715 subprime classes from the 2005 vintage and 
1,387 subprime classes from the 2006 vintage. The 2005 vintage subprime 
downgrades have affected 15.96% of the rated subprime securities from this 
vintage, and the 2006 vintage downgrades have affected 29.29%. The 2005 
subprime downgrades have affected 12.54% of the rated investment-grade 
securities from this vintage, and the 2006 subprime downgrades have affected 
25.56%. The 2005 vintage upgrades have affected 0.07% of the rated subprime 
securities from this vintage, and the 2006 vintage upgrades have affected 
0.08%. The ratings on approximately 0.27% of the 2005 vintage subprime 
investment-grade securities and 0.50% of the 2006 vintage subprime 
investment-grade securities are currently on CreditWatch negative;
     -- We have downgraded 115 second-lien classes from the 2005 vintage and 
420 second-lien classes from the 2006 vintage. The 2005 vintage second-lien 
downgrades have affected 18.32% of the rated investment-grade second-lien 
securities from this vintage, and the 2006 vintage downgrades have affected 
53.01%. The ratings on approximately 58.97% of the 2005 vintage second-lien 
investment-grade securities and 71.91% of the 2006 vintage second-lien 
investment-grade securities are currently on CreditWatch negative; and
     -- We have downgraded 47 Alt-A classes from the 2005 vintage and 128 
Alt-A classes from the 2006 vintage. The 2005 Alt-A downgrades have affected 
1.21% of the rated investment-grade Alt-A securities from this vintage. The 
2006 vintage Alt-A downgrades have affected 2.27% of the investment-grade 
securities. We have upgraded two Alt-A classes from the 2005 vintage. The 2005 
upgrades have affected 0.07% of the rated Alt-A securities from this vintage. 
The ratings on approximately 1.35% of the 2005 vintage Alt-A investment-grade 
securities and 2.61% of the 2006 vintage Alt-A investment-grade securities are 
currently on CreditWatch negative.
     In an effort to inform the market of the credit performance of RMBS 
backed by subprime, Alt-A, and closed-end second-lien loans, Standard & Poor's 
will continue to regularly disseminate information about rating activity in 
this sector. 
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