×

Fitch Updates U.S. RMBS Surveillance Criteria

NEW YORK--(BUSINESS WIRE)-- Link to Fitch Ratings' Report: U.S. RMBS Surveillance Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=691057

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

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

Criteria for Interest Rate Stresses in Structured Finance Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=673560

U.S. Residential Mortgage Re-REMIC Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=686005

U.S. RMBS Loan Loss Model Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=685646

U.S. RMBS Cash Flow Analysis Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=675966

Structured Finance Recovery Estimates for Distressed Securities

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

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.

Fitch Ratings
Susan Hosterman, +1-212-908-0670
Director
Fitch, Inc.
One State Street Plaza
New York, NY 10004
or
Grant Bailey, +1-212-908-0544
Managing Director
or
Media Relations
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com

Source: Fitch Ratings