Fitch Rates $215.9MM RBSSP Resecuritization Trust 2009-3

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Mon Mar 30, 2009 6:14pm EDT

NEW YORK--(Business Wire)--
RBSSP Resecuritization Trust 2009-3 is rated by Fitch Ratings as follows, with a
Stable Outlook: 

--$32,972,000 classes 1-A1, 1-A2 and 1-A4 'AAA'; 

--$11,980,000 classes 2-A1, 2-A2 and 2-A4 'AAA'; 

--$18,604,000 classes 3-A1, 3-A2 and 3-A4 'AAA'; 

--$13,319,000 classes 4-A1, 4-A2 and 4-A4 'AAA'; 

--$5,266,000 classes 5-A1, 5-A2 and 5-A4 'AAA'; 

--$26,271,000 classes 6-A1, 6-A2 and 6-A4 'AAA'; 

--$10,602,000 classes 7-A1, 7-A2 and 7-A4 'AAA'; 

--$19,954,000 classes 8-A1, 8-A2 and 8-A4 'AAA'; 

--$10,198,000 classes 9-A1, 9-A2 and 9-A4 'AAA'; 

--$6,049,000 class 10-A1 'AAA'; 

--$13,837,000 class 11-A1 'AAA'; 

--$7,814,000 class 12-A1 'AAA'; 

--$33,827,000 class 13-A1 'AAA'; 

--$5,257,000 class 14-A1 'AAA'. 

This transaction contains certain classes designated as exchangeable
certificates and others as regular certificates. The Class 1-A4, 2-A4, 3-A4,
4-A4, 5-A4, 6-A4, 7-A4, 8-A4 and 9-A4 Certificates are exchangeable
certificates. The rest of the classes are regular certificates. 

This transaction consists of 14 groups. Each group is a resecuritization of an
ownership interest in a single mortgage-backed certificate. As
resecuritizations, the certificates will receive their cash-flows from the
underlying classes of certificates. The underlying certificates are backed by
conventional Alt-A and Prime first-lien mortgage loans. The group-to-bond
associations are as follows: 

Group 1: 35.12% interest in the First Horizon Mortgage Pass-Through Trust
2005-6, Class I-A-1. Credit enhancement for the 1-A1, 1-A2 and 1-A4 certificates
is provided by the structural support on the underlying transaction and by the
12% class 1-A3 bond. 

Group 2: 47.90% interest in the CWALT, Inc., Alternative Loan Trust 2005-43,
Class 3-A-1. Credit enhancement for the 2-A1, 2-A2 and 2-A4 certificates is
provided by the structural support on the underlying transaction and by the 33%
class 2-A3 bond. 

Group 3: 32.31% interest in the RALI Series 2005-QS13 Trust, Class II-A-3.
Credit enhancement for the 3-A1, 3-A2 and 3-A4 certificates is provided by the
structural support on the underlying transaction and by the 28.75% class 3-A3
bond. 

Group 4: 13.88% interest in the Residential Asset Securitization Trust 2007-A7,
Class A-2. Credit enhancement for the 4-A1, 4-A2 and 4-A4 certificates is
provided by the structural support on the underlying transaction and by the 40%
class 4-A3 bond. 

Group 5: 20.62% interest in the Lehman Mortgage Trust, Series 2006-1, Class
3-A3. Credit enhancement for the 5-A1, 5-A2 and 5-A4 certificates is provided by
the structural support on the underlying transaction and by the 25% class 5-A3
bond. 

Group 6: 20.84% interest in the GSR Mortgage Loan Trust 2006-3F, Class 3A-1.
Credit enhancement for the 6-A1, 6-A2 and 6-A4 certificates is provided by the
structural support on the underlying transaction and by the 30% class 6-A3 bond.


Group 7: 79.90% interest in the CitiMortgage Alternative Loan Trust Series
2007-A6, Class IA-4. Credit enhancement for the 7-A1, 7-A2 and 7-A4 certificates
is provided by the structural support on the underlying transaction and by the
40% class 7-A3 bond. 

Group 8: 77.61% interest in the Lehman Mortgage Trust, Series 2007-5, Class
8-A1. Credit enhancement for the 8-A1, 8-A2 and 8-A4 certificates is provided by
the structural support on the underlying transaction and by the 45% class 8-A3
bond. 

Group 9: 10.10% interest in the RFMSI Series 2006-S7 Trust, Series 2006-S7,
Class A-3. Credit enhancement for the 9-A1, 9-A2 and 9-A4 certificates is
provided by the structural support on the underlying transaction and by the 30%
class 9-A3 bond. 

Group 10: 11.57% interest in the Bear Stearns Alt-A Trust 2005-9, Series 2005-9,
Class II-4A-1. Credit enhancement for the 10-A1 certificate is provided by the
structural support on the underlying transaction and by the 50% class 10-A2
bond. 

Group 11: 68.50% interest in the Adjustable Rate Mortgage Trust 2005-5, Class
1-A-1. Credit Enhancement for the 11-A1 certificate is provided by the
structural support on the underlying transaction and by the 50% class 11-A2
bond. 

Group 12: 70.84% interest in the Structured Asset Mortgage Investments II Trust
2006-AR3, Class III-A-2. Credit enhancement for the 12-A1 certificate is
provided by the structural support on the underlying transaction and by the 60%
class 12-A2 bond. 

Group 13: 86.20% interest in the GreenPoint Mortgage Funding Trust 2005-AR4,
Class III-A-1. Credit enhancement for the 13-A1 certificate is provided by the
structural support on the underlying transaction and by the 68.75% class 13-A2
bond. 

Group 14: 13.27% interest in the CHL Mortgage Pass-Through Trust 2005-1, Class
2-A-1. Credit enhancement for the 14-A1 certificate is provided by the
structural support on the underlying transaction and by the 60.20% class 14-A2
bond. 

Fitch's rating definitions and the terms of use of such ratings are available on
the agency's public site, www.fitchratings.com. Published ratings, criteria and
methodologies are available from this site, at all times. Fitch's code of
conduct, confidentiality, conflicts of interest, affiliate firewall, compliance
and other relevant policies and procedures are also available from the 'Code of
Conduct' section of this site. 





Fitch Ratings, New York
Ben Noland, 212-908-0743
Alla Sirotic, 212-908-0732
Media Relations:
Sandro Scenga, 212-908-0278
sandro.scenga@fitchratings.com



Copyright Business Wire 2009

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