Last week\'s residential mortgage ratings actions
By SAM GARCIA
1/3/2002

Standard & Poor's (S&P) raised and affirmed ratings on classes of GE Capital Mortgage Services Inc.'s (GE) residential mortgage-backed certificates of varying series. The raised ratings reflect increased credit enhancement percentages, strong collateral pool performance, and adequate seasoning. The collateral backing the certificates largely consists of high-credit-quality, prime, fixed-rate, first-lien loans.

Classes of Washington Mutual Mortgage Securities Corp.'s mortgage pass-through certificates, series 2001-MS15, were rated at 'AAA' to 'BBB' by Fitch based on levels of subordination. Five groups of 1st lien, fixed-rate 30-year and 15-year mortgages have weighted average original loan-to-values (WAOLTV) ranging from 61.9% to 70.9%, with many properties being located in California.

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