Fitch Rates C-BASS Mortgage Loan Asset-Backed Ctfs,

Series 2006-RP1
NEW YORK--(BUSINESS WIRE)--May 17, 2006--C-BASS mortgage loan asset-backed certificates,
series 2006-RP1, tend to be rated by Fitch Ratings as follows:
-- $228,499,000 class a 'AAA';
-- $16,618,000 class M-1 'AA+';
-- $14,039,000 class M-2 'A+';
-- $4,011,000 class M-3 'A';
-- $5,014,000 class B-1 'A-';
-- $3,581,000 class B-2 'BBB+';
-- $4,584,000 class B-3 'BBB';
-- $4,154,000 class B-4 'BBB-'.
The 'AAA' score on the class A New certificates reflects the particular 22.25% credit score
enhancement provided through the 5.80% class M-1, 4.90% class M-2, 1.40% class M-3, 1.75% class
B-1, 1.25% class B-2, 1.60% class B-3, and also 1.45% class B-4, together having a focused
overcollateralization (OC) of 4.10%. Throughout addition, the particular ratings around the
certificates reflect the grade of your underlying collateral and Fitch's level of confidence inside the
integrity in the legal and also monetary composition in the transaction.
The mortgage pool consists associated with fixed- along with adjustable-rate mortgage loans secured
by initial and second liens on one- in order to four-family residential properties, having an aggregate
legal principal stability associated with $288,025,588. Since in the cut-off date, April 1, 2006, your
mortgage loans were built together with a weighted typical loan-to-value ratio (LTV) of 78.88%,
weighted average coupon (WAC) associated with 9.083%, weighted typical remaining term in order
to maturity (WAM) involving 244 months and an average legal principal stability regarding $74,502.
Single-family properties account for approximately 76.81% of the mortgage pool, two- to end up
being able to four-family properties 7.05%, as well as condos 3.36%.
Approximately 2.38% of the loans may end up being subject to unique rules, disclosure needs as well
as other provisions which were added towards the federal Truth-in-Lending Act through the House
Ownership as well as Equity Protection Act regarding 1994, or even HOEPA. Since to approximately
97.62% of the mortgage loans, none of such loans tend to be 'high cost' loans as defined below any
local, state or perhaps federal laws. Pertaining To further facts about Fitch's rating criteria
regarding predatory lending legislation, please see the press releases issued Could 1, 2003 entitled
'Fitch Revises Score Criteria inside Wake regarding Predatory Lending Legislation' and February 23,
2005 entitled 'Fitch Revises RMBS Guidelines for Antipredatory Lending Laws', obtainable about the
Fitch Ratings site with www.fitchratings.com.
C-BASS ABS, LLC deposited your loans in to the trust, which usually issued the actual certificates,
representing advantageous ownership inside the trust. With Regard To federal earnings tax
purposes, the have confidence in will consist associated with multiple real-estate mortgage
investment conduits (REMICs). JPMorgan Chase Bank, N.A. will behave as trustee. Litton Loan
Servicing LP, rated 'RSS1' will act as servicer for this transaction.
Fitch's score definitions and the regards to use of such ratings are generally accessible about the
agency's public site, www.fitchratings.com. published ratings, criteria as well as methodologies are
usually provided by this site, at all times. Fitch's code involving conduct, confidentiality, conflicts of
interest, affiliate firewall, compliance and other relevant policies and also processes are also
available in the 'Code involving Conduct' portion of this site.
Fitch Ratings
Rachel Brach, 212-908-0225
Randi Greenberg, 212-908-0717
Sandro Scenga, 212-908-0278 (Media Relations)
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