February remittance reports — for the January collection period — showed monthly aggregate 60+ day delinquencies climbing 66 basis points, 91 basis points, 118 basis points, and 224 basis points (compared with rises of 56 basis points, 54 basis points, 158 basis points, and 167 basis points last month) for series 06-1, 06-2, 07-1, and 07-2, respectively.

According to Barclays Capital analysts, the credit performance over the month was overshadowed by servicing and seasonality. Defaults were 3-4 CDR lower for the 06 series and 1.0-2.5 CDR lower for the 07 series, primarily because of RAMP, RASC, BSABS, and ACE shelves reporting a more than 10 point CDR dip, analysts said.

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