LOUISVILLE, Ky., May 02, 2012 (BUSINESS WIRE) –
Humana Inc.

/quotes/zigman/229688/quotes/nls/hum HUM
-1.52%

announced today that Bruce D. Broussard,
President, will make a presentation to investors at the Deutsche Bank
2012 Health Care Conference on Wednesday, May 9, 2012, at 10:40 a.m.
eastern time.

A live audio webcast of the presentation along with the accompanying
slides will be available via Humana’s Investor Relations page at
www.humana.com .
The company suggests webcast participants sign on approximately 15
minutes in advance of the presentation to allow time to run a system
test and download any free software needed for access purposes.

Humana Inc., headquartered in Louisville, Kentucky, is a leading health
care company that offers a wide range of insurance products and health
and wellness services that incorporate an integrated approach to
lifelong well-being. By leveraging the strengths of its core businesses,
Humana believes it can better explore opportunities for existing and
emerging adjacencies in health care that can further enhance wellness
opportunities for the millions of people across the nation with whom the
company has relationships.

More information regarding Humana is available to investors via the
Investor Relations page of the company’s web site at
www.humana.com ,
including copies of:

–
Annual reports to stockholders;

–
Securities and Exchange Commission filings;

–
Most recent investor conference presentations;

–
Quarterly earnings news releases;

–
Replays of most recent earnings release conference calls;

–
Calendar of events (including upcoming earnings conference call dates
and times, as well as planned interaction with research analysts and
institutional investors);

–
Corporate Governance information.

SOURCE: Humana Inc.

Humana Investor Relations
Regina Nethery, 502-580-3644
Rnethery@humana.com
or
Humana Corporate Communications
Tom Noland, 502-580-3674
Tnoland@humana.com

Copyright Business Wire 2012

/quotes/zigman/229688/quotes/nls/hum

Add to portfolio

HUM

Humana Inc.

US

: U.S.: NYSE

$
74.53

-1.15
-1.52%

Volume: 2.33M
May 18, 2012 4:02p

P/E Ratio9.16
Dividend Yield1.40%

Market Cap$12.16 billion
Rev. per Employee$946,519

Financial Glossary

Words used in this article:

THOMSON REUTERS, Corporate Conference Call/Webcast for US Companies for
Thursday, May 17, 2012.

SP 500 Earnings – Weekly SP 500 Earnings – Day Ahead
Non SP 500 – Weekly Non SP 500 – Day Ahead
ConferenceCall/Webcast – Weekly SP 500 Earnings – Monthly
Meetings – Weekly Meetings – Day Ahead
Economic Indicators Dividends
Daily earnings hits misses
Federal Reserve events

CONFERENCE CALLS/WEBCASTS

Xtra users can see more details on conference calls by hovering your mouse over the
RIC, right click, now click on Related Company Data, now click on Company Events.

———————————————————————————-
DATE GMT SYMBOL COMPANY NAME AND PERIOD
17 May 13:00 Q1 Ampal-American Israel Corp Erngs Conf Call (English)
17 May 13:00 Q1 Dollar Tree Stores Erngs Conf Call
17 May 13:00 Q1 Limited Brands Erngs Conf Call
17 May 13:00 Q4 Spartan Stores, Inc. Erngs Conf Call
17 May 13:30 Q4 Westell Technologies Erngs Conf Call
17 May 11:00 Q1 2013 Wal-Mart Stores, Inc. Pre-recorded Erngs Conf Call
17 May 12:00 Q1 The Childrens Place Retail Stores, Inc. Erngs Conf Call
17 May 12:00 Q4 GT Advanced Technologies Inc. Erngs Conf Call
17 May 12:00 Q1 Sino Clean Energy Inc Erngs Conf Call
17 May 12:30 Q1 Navios Maritime Holdings Erngs Conf Call
17 May 12:30 Q4 Prestige Brands Holdings Inc. Erngs Conf Call
17 May 12:30 Q1 Stage Stores Erngs Conf Call
17 May 14:00 Q1 Advance Auto Parts Erngs Conf Call
17 May 14:00 Q1 Bon-Ton Stores Erngs Conf Call
17 May 14:00 Q4 Precision Castparts Erngs Conf Call
17 May 14:00 Q4 Quality Systems Erngs Conf Call
17 May 14:00 Q1 Stein Mart, Inc. Erngs Conf Call
17 May 14:00 Q1 The Buckle Erngs Conf Call
17 May 14:00 Q1 Trans World Entertainment Corp. Erngs Conf Call
17 May 14:30 Q2 Jack in the Box Erngs Conf Call
17 May 15:00 Q4 Computer Sciences Corporation Erngs Conf Call
17 May 15:00 Q1 Gamestop Corp. Erngs Conf Call
17 May 15:00 Q1 2013 Perry Ellis International Erngs Conf Call
17 May 15:00 Q1 Ross Stores, Inc. Erngs Conf Call
17 May 20:15 Q1 Aeropostale, Inc. Erngs Conf Call
17 May 20:30 Q2 Applied Materials Inc Erngs Conf Call
17 May 20:30 Q3 Intuit Erngs Conf Call
17 May 20:30 Q1 iSECUREtrac Corp Erngs Conf Call
17 May 20:30 Q1 New York Company, Inc. Erngs Conf Call
17 May 20:30 Q1 Pacific Sunwear of California, Inc. Erngs Conf Call
17 May 20:30 Q1 Shoe Carnival Erngs Conf Call
17 May 20:45 Q1 2013 Marvell Technology Group Ltd. Erngs Conf Call
17 May 9:00 Q1 Ampal-American Israel Corp Erngs Conf Call (Hebrew)
17 May 21:00 Q3 Aruba Networks Erngs Conf Call
17 May 21:00 Q1 2013 Autodesk, Inc. Erngs Conf Call
17 May 21:00 Q1 Così Inc. Erngs Conf Call
17 May 21:00 Q1 Gap Inc. Erngs Conf Call
17 May 21:00 Q1 2013 Salesforce.com Erngs Conf Call
17 May 21:00 Q4 ViaSat Erngs Conf Call
17 May 21:00 Q1 ZUMIEZ INC Erngs Conf Call
17 May 21:30 Q2 Brocade Communications Systems, Inc. Erngs Conf Call

FOR ALL AMERICAN HOLIDAYS
FOR AN INDEX OF ALL DIARIES

Contact: Global Filings hotline number on +91 80 6677 1440,
or diaries desk on +91 80 6677 1088,
e-mail diaries@reuters.com or raghuvir.rathore@thomsonreuters.com
(between 0130 GMT and 1730 GMT) ]]> http://www.memphishotels.ws/archives/355/feed 0 http://www.memphishotels.ws/archives/353 http://www.memphishotels.ws/archives/353#comments Sat, 19 May 2012 13:42:26 +0000 admin http://www.memphishotels.ws/?p=353 (Reuters) – Human Genome Sciences Inc said on Thursday it adopted a stockholder rights plan as the biotechnology company defends itself against a $2.6 billion hostile takeover bid by drugmaker GlaxoSmithKline Plc. Human Genome said its board determined the $13-a-share bid by the British drugmaker was inadequate and undervalued the company and it recommended stockholders [...]]]> n>(Reuters) – Human Genome Sciences Inc said on Thursday it adopted a stockholder rights plan as the biotechnology company defends itself against a $2.6 billion hostile takeover bid by drugmaker GlaxoSmithKline Plc.

Human Genome said its board determined the $13-a-share bid by the British drugmaker was inadequate and undervalued the company and it recommended stockholders not tender their shares.

Glaxo, however, said it plans to proceed with its tender offer and restated its preference to complete the acquisition on a friendly basis.

In a statement, Human Genome said it adopted the rights plan to allow the company to fully engage in its strategic review process and as a means to protect the long-term interests of the companys stockholders.

The rights plan will not stop any offers that the board deems to be in the best interest of the company and its shareholders, Human Genome said.

The company declared a dividend of one share purchase right for each share of its common stock held as of the close of business on May 29.

Human Genomes board initially spurned Glaxos bid on April 19; at the time, the offer represented an 81 percent premium. Many investors and analysts expect Glaxo to clinch a deal at a modestly higher price.

A Reuters poll of 13 analysts found that, on average, they believe the deal will get done at about $15 per share.

Human Genome shares were off 1.3 percent at $14.06 in afternoon trading on Nasdaq and have consistently traded above the offer price since it was made.

Glaxo and Human Genome together sell Benlysta, a new drug for autoimmune condition lupus. They are also collaborating on two other experimental drugs in late-stage trials for diabetes and heart disease that could become significant sellers.

The British drugmaker repeated that it believes its offer to be fair value and that it incorporates the estimated value of the two drugs in advanced development, and the rest of the companys pipeline of experimental drugs.

Buying Human Genome would give Glaxo full rights to these partnered drugs, underscoring the appetite among big drugmakers for biotech products to drive future sales.

Glaxo launched its $2.6 billion tender offer for Human Genome shares last week. The offer is still set to expire at midnight on June 7.

(Reporting By Lewis Krauskopf and Bill Berkrot in New York; editing by Gerald E. McCormick,; John Wallace and Andre Grenon)

The company doesnt make it easy, because there have been so many rounds, and the layoffs can take months or years to occur. When they do, the number is usually different that what was announced. On top of that, HP was on a massive acquisition binge that was tripling its overall headcount. And even as it was cutting companies in one area, it also might be hiring in others.

But eventually, I came up with a figure:

75,505.

That number did not include a round of 8,600 cuts it was in the middle of executing. And just a couple of months later, then-CEO Mark Hurd announced 9,000 more cuts. As I wrote in a follow-up column: HPs greatest product seemed to be the export of former HP employees.

Those rounds would put the number of announced job cuts at 93,105. Imagine, the company was surprised that morale was low when it parted ways with Hurd in 2010.

For a brief moment, his replacement, Leo Apotheker seemed to promise a respite. He promised to invest! Give raises! Focus on innovation! Even the board, which had approved the strategy that endorsed these cuts, suddenly embraced the need to invest, worrying that Hurd had cut too deeply. Uh, yeah.

Of course, Apotheker was gone in less than a year. Enter former eBay CEO Meg Whitman. After growing rusty in the basement, it sounds like shes dragged out the HP layoff machine, gassed  it up, and is apparently going to cut loose on Wednesday. Vroooom!

Reports on Thursday put the targeted number between 25,000 and 30,000. That would put the tally of announced job cuts between 118,105 and 123,105.

That is simply astonishing. Its not like HP was spiraling into bankruptcy, or heck, even unprofitable.

Yes, weve grown numb to layoff announcements. Its become a common tool for any CEO that lacks ideas to wield when times are tough. And yet, where exactly has it gotten HP? Nowhere. And dont forget, the amount the company has spent in severance goes into the billions of dollars.

If these announcements come to pass next Wednesday, consider it the surest sign that HP is lost with no chance of finding its way out.

NEW YORK, May 17, 2012 (BUSINESS WIRE) –
New York & Company, Inc. [NYSE:NWY], a specialty apparel chain with 541
retail stores, today announced that Christine Munnelly has been promoted
to the position of Executive Vice President, Merchandising. Ms. Munnelly
was previously Senior Vice President, Merchandising overseeing the
Company’s Casual business. She will continue to report to Greg Scott,
Chief Executive Officer.

“We are very excited that we have promoted Chris to Executive Vice
President of Merchandising,” stated Greg Scott, New York & Company’s
CEO. “With over 25 years of retail experience, Chris has established a
proven track record of success with such retailers as Aeropostale and
Macy’s East. Her experience and wealth of industry knowledge combined
with her commitment to our customer strongly align with our business
objectives. I look forward to continuing to work closely with her as we
move forward.”

Prior to being named Senior Vice President of Merchandising, Casual, Ms.
Munelly was Vice President, Merchandising Manager at Aeropostale from
August 2008 to September 2011 where she was responsible for managing all
aspects of women’s apparel, from concept and line planning to floor
execution. Before joining Aeropostale, Ms. Munelly held several senior
level positions at New York & Company including Executive Vice
President, General Merchandise Manager of JasmineSola; Vice President,
General Merchandise Manager, Accessories, Jewelry; and Vice President,
Merchandise Manager, Accessories, Jewelry, Outerwear, Dresses and
Intimate Apparel.

About New York & Company

New York & Company, Inc. is a leading specialty retailer of women’s
fashion apparel and accessories, and the modern wear-to-work destination
for women, providing perfectly fitting pants and NY Style that is
feminine, polished, on-trend and versatile–all at an amazing value. The
Company’s proprietary branded New York & Company(R) merchandise is sold
exclusively through its national network of retail stores and eCommerce
store at
www.nyandcompany.com .
The Company currently operates 541 stores in 43 states. Additionally,
certain product, press release and SEC filing information concerning the
Company are available at the Company’s website:
www.nyandcompany.com .

SOURCE: New York & Company, Inc.

New York & Company, Inc.
Suzanne Rosenberg, 212-884-2140
Director, Investor Relations
or
Investors:
ICR, Inc.
Allison Malkin, 203-682-8225

Copyright Business Wire 2012

Financial Glossary

Words used in this article:

He said discussions and meetings with government and private levels are being held on the sidelines of AIM and the Pakistan delegation is expected positive results in coming days.

Pakistans 80-member trade delegation, led by Federal Minister Makhdoom Amin Fahim, participated in the second-day activities of investment forum and gave presentations on various key projects especially in Sindh province.

Amin Fahim said Pakistan has huge potential for investment in key sectors and the government will go all-out to facilitate the foreign investors especially from the Gulf countries.

Sindh chief minister Syed Qaim Ali Shah said the agricultural economy of Sindh province contributes about 23 per cent to Pakistans gross domestic production.

Keeping in view global food security concerns, the province vast agriculture expanse has capacity to become regions food basket, he said.

Shah said agro-related investment projects are ready for investment and introduction to value-addition through use of technology, efficient irrigation system and modern implements can help attain true potential of province agriculture. The Sindh Board of Investment, the primary investment promotion agency of the province, invited Gulf investors and UAE companies in particular to avail the benefits of conducive-investment policies.

We are offering investment opportunities in agriculture farming, livestock, grain-storage project as well as in infrastructure development projects, Muhammed Zubair Motiwala, chairman of the Sindh Board of Investment, told

Elaborating, he said the government of Sindh is looking to offer land for establishment of Meat Park in Sukkur and Thatta near Karachi. He said the Rs500 million project will pay back the cost in three to five years and offers a 20-22 per cent IRR to investors.

Motiwala said the provincial government has strived to facilitate and create investor-friendly environment to attract more investment especially in Thar Coalfield, which is declared as a special economic zone. Investors can avail 30-year tax holiday, zero per cent customs duties on import of coal mining equipment and machinery. We are offering up to 22 per cent IRR to investors on the their investment in Sindh along with other benefits which include repatriation of 100 per cent capital, profits, royalty and zero import duties on capital goods, plant and machinery and equipment not manufactured locally, he said.

He said that the province has also an estimated hydropower potential of 153 megawatts based on various sites identified along the Sindh canal network.

He said the UAE has showed interest in Thar coal mining and power plant projects. Al Manhal has shown interest in developing block 2 of the Thar Coalfield. We may discuss the project this weekend and if talks go positively, the UAE firm may invest up to $6 billion in the Thar coal project, he said.

Motiwala said Thar coal reserves have an estimated potential of generating 100,000 megawatts of electricity for a period of 300 years. It provides an opportunity for large-scale mining and power-generation over a longer period of time, he said.

He said Pakistan has been facing an acute shortage of electricity and direly need investments in power-generation projects. According to a delegate, about 700 main industries in Punjab and Sindh are directly affected by electricity shortages in the country.

About 400 industries in Punjab and 300 factories in Sindh have shut down their operations due to load-shedding and shortage of electricity, he said.

Motiwala further said Sindh government also offers investment opportunities in renewable energy like solar street light initiative and wind power projects worth around $5.3 billion.

International investors are in queue to invest in wind power projects because the province has potential to generate 50,000 megawatts electricity through wind turbines across its coastal belt, he said.

To a question about potential investors in wind energy, he said Hydro China, China Three and NBT/Malakoff, among others, showed interest in 26 projects in the province with installed capacity of 1,800 megawatts.

We also have offered some renewable energy projects to Masdar. We will discuss some investment opportunities with Masdar officials in Abu Dhabi and expect positive results, he said.

The annual radiation of 3,000 hours in Sindh has an endless potential for solar energy, he said adding that the government is keen to encourage public-private partnerships in energy, power, agriculture and infrastructure development projects.

RESPONSIBILITY : 1) Operate office equipment such as fax machines, copiers, phone systems, and use computers for spreadsheet, word processing, database management, and other applicants. 2) Answer telephones and give information to callers, take messages or transfer calls to appropriate individuals. 3) Set up and maintain paper and electronic filing system for records, correspondences and other material. 4) Locate and attach appropriate files to incoming correspondence requiring replies. 5) Open, read, route and distribute incoming mails.. 6) Complete forms in accordance with company procedures. 7) Make copies of correspondences and other printed material. Review work done by other to check for correct spelling and grammar, ensure the company format polices are followed and a recommend revisions. 9) Compose type, and distribute meeting notes, routine correspondence, and reports. 10) Coordinate and follow up the personal department for vacations or business trips requirements.

Skills

EXPERIENCE :

Minimum of 3 years successful secretarial field. QUALIFICATION :

Bachelor degree, Diploma in secretarial job is preferable.

KNOWLEDGE amp; SKILLS :

English communication skills. Knowledge on arabic will be added advantage Computer skills Time Management skills

Company Profile

Focus Career HR amp; Recruitment Consultants is a Kuwait based organisation with its sister concern Focus HR Solutions Pvt. Ltd. an Indian registered Recruiting Company with ISO Certification BV 9001:2008, well set and well structured as per international standards in Cochin and having associate offices in major cities of India.

What was Ulysses Grant’s motivation for issuing General Order 11, and how ?long did it take for it to be rescinded??

Grant was deeply concerned about smuggling between the North and the South. In his ?correspondence, the word “Jew” and the word “smuggler” became almost synonymous. He blamed a ?widespread problem on a visible group, and felt that by expelling that group from his war zone, ?smuggling would be eradicated. We now know that the occasion for his order was the discovery that ?his own father, Jesse Grant, had conspired with Jewish clothing manufacturers to move cotton from ?South to North. This, for him, was the last straw, and he issued General Orders No. 11 as soon as he ?made this discovery. The order was issued on December 17, 1862 but took 11 days to reach ?Paducah. After that city’s Jews were expelled on December 28, it took but a week for one of them to ?reach Washington DC. On January 4th, upon learning of General Orders No. 11, Abraham Lincoln had it ?revoked.?

Were Jews really affected by the order, did they even know about it at the ?time??

Jews in the vicinity of Grant’s headquarters were expelled on account of the order, and we possess ?some stories of Jews who were mistreated in the process. As mentioned, Jews were also expelled from ?Paducah where some 30 Jewish families resided. The total number of Jews affected, however, ?probably did not exceed 100. Jewish newspapers carried news of the order, and one of those ?expelled, Cesar Kaskel of Paducah, spread the story to the Associated Press. Thanks to him, the story ?went around the country. Of course, the Emancipation Proclamation, issued on January 1, 1863, was ?much bigger news. Lots of people only learned about General Orders No. 11 years later, in 1868, ?when Grant ran for president and the order became an election issue.?

Isnt it true that General Grant ultimately became a president with a fairly ?favorable attitude to American Jewry? How did this change take place??

Grant apologized for General Order #11 following his election (“I do not pretend to sustain the order. . ??. I have no prejudice against sect or race, but want each individual to be judged by his own merit.”) As ?President, he proved that apology genuine by appointing many Jews to public office and by displaying ?sensitivity to Jews when they were persecuted in Russia and Rumania. In many ways, he spent the rest ?of his life, from 1868 to his death in 1885, living down General Orders No. 11 and proving, by his ?actions, that he bore no anti-Jewish prejudices.?

You state at the end of your book that Ulysses S. Grant’s order expelling ?the Jews set the stage for their empowerment – how so??

Paradoxically, the order expelling Jews forced Jews into the political arena where they rapidly ?achieved success. Not only did they succeed in having Grant’s order revoked, they also managed ?during the Grant era to use government as an instrument for improving Jewish conditions at home and ?abroad. Government service taught Jews a great deal about political power, lessons that held them in ?good stead in later years.?

At some point you seem to suggest that Jews of the North share some ?of the blame for Grants suspicions, because they were ?questioning emancipation and expressed fear that free blacks might compete ?with Jews for jobs. Is this not a problematic blame-the-victim suggestion??

It is easy to understand why, in the wake of General Orders No. 11 – coming as it did so close to the ?Emancipation Proclamation – some Jewish leaders feared that Jews would replace Blacks as the ?nation’s stigmatized minority. It is also easy to understand why Jews, who as immigrants often looked ?and sounded different from the majority of their countrymen, faced persecution and prejudice. My ?goal is not to blame the victim, but to explain why it was that Jews were victimized. ?

In one of the many talks you gave on this book youve said that there are ?interesting parallels to be made from the current political climate to the 1868 ?election – namely, that Jews who might be hesitating to vote for President ?Obama might be able to learn something from Grants transformation. What ?exactly did you mean??

In 1868, Jews who had supported the Republican Party since Lincoln’s first term faced a difficult ?conundrum. Should they vote for the Democrats, a party they considered bad for the country, just to ?avoid voting for a man (Grant) who had been bad to the Jews? The Democrats sought to roll back ?Reconstruction and disenfranchise Black voters. Should Jews vote for them anyway, just to avoid ?voting for a candidate who had expelled Jews from his war zone? The question of loyalties – how ?much should “Jewish considerations” sway Jewish voters, and how much should they vote on the basis ?of what they see as good for the country as a whole – was hotly debated in 1868. It seems to me that in ?the 2012 election, Jews will face some of these same kinds of questions.?
? ?

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I still marvel at the skill, care and outright goodness of the people who took care of my mom. It made me think really hard about how fortunate our family is to live in Iowa City, to have good health insurance, and ready access to world class health care.

But it also made me think how criminal, even immoral, it is that every American does not have even basic health care or insurance. Those who rail about the government taking over health care or who think that only the wealthy have rights to health care surely have never been without medical care in their privileged lives.

Every member of Congress who talks gleefully about repealing Obamacare has federally subsidized health care, access to top military hospitals, even doctor’s clinics in the Congressional office building.

Mitt Romney and Rick Santorum have family members with serious medical conditions that would prevent them from buying insurance today without the Obama law preventing insurance companies from dropping or refusing to cover people with pre-existing conditions.

Yet, they, like almost all Republicans can’t wait for their reactionary friends on the Supreme Court to rule that Obamacare is unconstitutional.

These self-proclaimed pro-family Christians really believe that healt hcare is not a right, but a privilege that only their rich masters should have. How can you possibly call yourself pro-family if you want to deny poor children everyday immunizations? What kind of real Christian wants to cut taxes for the obscenely wealthy by gutting Medicare and Medicaid?

The Republicans love to say that this is the most important election in American history, and I agree.

Americans will be offered the choice between a party that champions the hard-hearted, pitiless agenda of Paul Ryan’s budget, the attacks on women’s health, and the drive to restrict the voting rights of the poor and minorities. Or, we Americans can reassert the fundamental American belief that government is meant to serve the common good, to make it possible for every person to pursue life, liberty and the happiness.

This outcome of this election will decide if the 1 percent of people who own 40 percent of the wealth in this country will be showered with tax cuts, corporate loopholes and inside access to the Republicans they have bought fair and square, or whether working Americans will see their incomes rise as does US productivity, student loan rates make it possible for average Americans to go to college, and each one of us has the health care that we need.

It is indeed the most important election in at least a generation, a stark choice between Social Darwinism and the Republican philosophy of “Screw you, Jack, I have mine” or simple fairness and decency. I like to think that people will reject the GOP’s s attack on the very foundations of American democracy, but the plutocrats will be spending billions of dollars in an effort to hoodwink people into voting against their own economic interests. God help us if the extremists in the Republican Party win more power.

NEW YORK, May 01, 2012 (BUSINESS WIRE) –
Fitch Ratings has affirmed nine and downgraded three classes within four
Bayview Financial Asset Trust (BFAT) transactions, which are U.S. RMBS
Re-securitization Trusts.

All four Bayview Re-securitizations are secured by underlying classes of
asset-backed securities. Each of the underlying securities are secured
by an interest in an underlying pool of loans consisting of fixed- and
adjustable-rate residential mortgage loans; small balance commercial,
multi-family and mixed-use loans; installment contracts for the purchase
of real property; and disaster assistance loans both unsecured and
secured by second liens on commercial property and various types of
non-real estate collateral.

Fitch’s rating actions are as follows:

Bayview Financial Asset Trust 2003-SSR1

–Class A (07324QDR4) affirmed at ‘AAAsf’; Outlook Stable;

–Class M (07324QDS2) affirmed at ‘AAsf’; Outlook Stable.

Bayview Financial Asset Trust 2004-SSR1

–Class A1 (07324QEX0) affirmed at ‘BBsf’; Outlook revised to Stable
from Negative;

–Class A2A (07324QEY8) affirmed at ‘BBsf’; Outlook revised to Stable
from Negative;

–Class A2B (07324QEZ5) affirmed at ‘BBsf’; Outlook revised to Stable
from Negative;

–Class M (07324QFA9) affirmed at ‘BBsf’; Outlook Negative.

Bayview Financial Asset Trust 2007-SSR1

–Class A (07325QAA3) downgraded to ‘Bsf’ from ‘BBsf’; Outlook Negative;

–Class M1 (07325QAB1) downgraded to ‘CCCsf/RE 60%’ from ‘Bsf’;

–Class M2 (07325QAC9) downgraded to ‘CCCsf/RE 45%’ from ‘Bsf’;

–Class M3 (07325QAD7) affirmed at ‘CCCsf/RE 40%’;

–Class M4 (07325QAE5) affirmed at ‘CCsf/RE 35%’.

Bayview Financial Asset Trust 2007-SSR2

–Class A (07326CAC9) affirmed at ‘CCsf/RE 30%’.

The three downgrades are a result of an increase in Fitch’s expected
losses due to revisions to Fitch’s treatment of seasoned Subprime loans,
as well as deterioration in the collateral underlying Bayview Financial,
Asset Trust 2007-SSR1. Fitch’s revised seasoning credit for Subprime
loans is described in the special report ‘U.S. Subprime RMBS Rate of
Improvement Slows,’ published March 12, 2012.

While the rated classes in all four Re-securitizations benefit from
excess spread, overcollateralization and a reserve fund, the
transactions also contain two characteristics that increase their
sensitivity to stressed scenarios. First, principal is paid pro-rata
across senior and subordinate classes. This feature results in a
reduction of the subordination for senior classes over time and can
increase their vulnerability to higher losses later in the transaction’s
life. Second, the transactions all have varying degrees of basis risk as
a result of fixed-rate coupons on the underlying bonds collateralizing
floating-rate coupons in the Re-securitization.

Bayview Financial Asset Trust 2003-SSR1 has generally performed within
expectations to date, with the underlying mortgage pools experiencing
relatively low delinquency rates and limited losses. Despite more
stressful assumptions and the pro-rata principal pay structure of the
Re-securitization, the ratings of the A and M classes were affirmed due
to modest increases in credit enhancement over the past 12 months.

The performance of Bayview Financial Asset Trust 2004-SSR1′s collateral
has not deteriorated further; however, all classes are projected to
incur unrecovered interest shortfalls in all stressed scenarios. As a
result of the projected interest shortfalls, the ratings were capped at
‘BBsf’ in the 2011 review, based on Fitch’s ‘Criteria for Rating Caps in
Global Structured Finance Transactions’ (Aug. 9, 2011).

The mortgage pools underlying Bayview Financial Asset Trust 2007-SSR1
have performed slightly worse than expected. The aforementioned
structural features of the transaction make the senior bonds vulnerable
to small changes in performance, and led to the three downgrades. The
most senior bond in the transaction, class A, has been downgraded to
‘Bsf’ from ‘BBsf’ as a result of higher expected losses. In addition,
the class A is expected to experience unrecoverable interest shortfalls
in the ‘BBBsf’ stress scenario, which lead to a rating cap of ‘BBsf’ in
May 2011.

To review ratings on the Re-securitizations, Fitch first determined each
collateral pool’s projected base-case and rating stressed default and
loss severity assumptions for the underlying transactions. Due to the
atypical characteristics of the underlying mortgage pool, Fitch did not
use its proprietary loan-level residential mortgage model when
projecting mortgage pool losses. Given the similarities in the
collateral’s default behavior with subprime mortgage loans of similar
vintages, Fitch used a performance-adjusted subprime vintage average
default assumption for performing loans and assumed 100% probability of
default for all delinquent loans. Loss severities for the underlying
mortgage loans are generally materially higher than typical subprime
loans. Fitch assumed 100% severity for all second lien and unsecured
pools and 90% severity for all first lien pools. Fitch also used vintage
average servicer advancing rates that were generated in the March 2012
Subprime review. Finally, adjustments were made to account for small
pool risk in the underlying transactions based on Fitch’s small pool
policy.

After determining each underlying mortgage pools’ projected base-case
and stressed scenario loss assumptions, Fitch performs cash flow
analysis to ascertain the amount of bond recovery and loss that the
Re-securitization classes take in the ‘AAA-B’ rating stresses. Fitch’s
cash flow assumptions are described in the July 8, 2011 report, ‘U.S.
RMBS Surveillance Criteria’. Fitch’s Cash flow Criteria is described in
the report ‘U.S RMBS Cash Flow Analysis Criteria’ published on April 19,
2012.

Fitch did not consider the results of the PCM model typically used in
structured credit transactions and referenced in Fitch’s criteria when
rating Re-securitizations with more than five underlying bonds. This is
an exception to Fitch’s published rating criteria. However, since the
underlying bonds generally do not have credit ratings, Fitch did not
feel the PCM model results would provide a useful indication of the
Re-securitization credit risk.

Following a review of the cash flow results, Fitch affirmed or
downgraded the ratings of the Re-securitization classes based on each
bond’s credit risk and likelihood of receiving full payment of interest.

In addition to the long-term credit rating on each rated class, Fitch
has also revised the Recovery Estimates on the four bonds which are
expected to incur impairment. The methodology used to assign Recovery
Ratings is described in Fitch’s Nov. 18, 2011 report, ‘Structured
Finance Recovery Estimates for Distressed Securities’.

These actions were reviewed by a committee of Fitch analysts.

Additional information is available at ‘
www.fitchratings.com ‘.
The ratings above were solicited by, or on behalf of, the issuer, and
therefore, Fitch has been compensated for the provision of the ratings.

Applicable Criteria & Related Research:

–’Global Structured Finance Rating Criteria’ (Aug. 4, 2011);

–’U.S. RMBS Surveillance Criteria’ (July 8, 2011);

–’U.S. Residential Mortgage Re-REMIC Criteria’ (Aug. 15, 2011);

–’Structured Finance Recovery Estimates for Distressed Securities’
(Nov. 18, 2011);

–’Counterparty Criteria for Structured Finance Transactions’ (March 12,
2012);

–’Criteria for Rating Caps in Global Structured Finance Transactions’
(Aug. 9, 2011).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646569

U.S. RMBS Surveillance Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=640869

U.S. Residential Mortgage Re-REMIC Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=648588

Structured Finance Recovery Estimates for Distressed Securities

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=656557

Counterparty Criteria for Structured Finance Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=667929

Criteria for Rating Caps in Global Structured Finance Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=648672

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND
DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING
THIS LINK:
HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS .
IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE
AVAILABLE ON THE AGENCY’S PUBLIC WEBSITE ‘
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.

SOURCE: Fitch Ratings

Fitch Ratings
Performance Analyst
Jonathan Hoke
Analyst
+1-212-908-0387
Fitch, Inc., 1 State Street Plaza, New York, NY 10004
or
Committee Chairperson
Grant Bailey
Managing Director
+1-212-908-0554

Copyright Business Wire 2012

Financial Glossary

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