NEW YORK--(BUSINESS WIRE)-- Link to Fitch Ratings' Report: U.S. RMBS Surveillance Criteria
Fitch Ratings has published an updated U.S. RMBS criteria report that outlines the framework used to monitor and analyze outstanding U.S. RMBS for potential rating changes.
Changes from the previously published criteria include revisions to:
--Interest rate stress assumptions;
--Cash flow prepayment assumptions; and
--The rating policy for pools with small remaining loan counts.
Although these changes are new to the criteria report, Fitch generally does not expect the changes to have material rating implications for the bonds currently outstanding.
The criteria report provides details and analysis of Fitch's surveillance process for U.S. RMBS transactions. This includes discussion of Fitch's key rating drivers for U.S. RMBS: asset analysis, cash flow analysis, and counterparty analysis.
The criteria report 'U.S. RMBS Surveillance Criteria' is available on the Fitch Ratings web site at 'www.fitchratings.com' or by clicking on the above link:
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria & Related Research:
--'Global Structured Finance Rating Criteria' (June 6, 2012);
--'Criteria for Interest Rate Stresses in Structured Finance Transactions' (March 20, 2012);
--'U.S. Residential Mortgage Re-REMIC Criteria' (Aug. 10, 2012);
--'U.S. RMBS Loan Loss Model Criteria' (Aug. 10, 2012);
--'U.S. RMBS Cash Flow Analysis Criteria' (April 19, 2012);
--'Structured Finance Recovery Estimates for Distressed Securities' (Nov. 16, 2011).
Applicable Criteria and Related Research:
Global Structured Finance Rating Criteria
Criteria for Interest Rate Stresses in Structured Finance Transactions
U.S. Residential Mortgage Re-REMIC Criteria
U.S. RMBS Loan Loss Model Criteria
U.S. RMBS Cash Flow Analysis Criteria
Structured Finance Recovery Estimates for Distressed Securities
Susan Hosterman, +1-212-908-0670
One State Street Plaza
New York, NY 10004
Grant Bailey, +1-212-908-0544
Sandro Scenga, +1-212-908-0278
Source: Fitch Ratings