Fitch Ratings has published an updated U.S. RMBS criteria report. This report outlines Fitch's analytical framework for assessing the risks inherent in U.S. residential mortgage-backed securities (RMBS) transactions backed by newly originated and seasoned residential mortgages.
Fitch's rating approach considers the credit risks of the underlying collateral; the soundness of the credit enhancement (CE) and legal structures; and the quality of the financial and operational condition of the parties to the transaction.
Fitch consolidated its criteria reports for originator reviews and third party due diligence as well as its rep and warranty criteria into this report. This criteria report replaces the one of the same title published on
Fitch will continue to review existing ratings as part of the ongoing performance analytics process, consistent with its 'U.S. RMBS Surveillance and Re-REMIC Criteria' published on
The criteria report 'U.S. RMBS Master Rating Criteria' is available 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.'
--'U.S. RMBS Loan Loss Model Criteria' (
--'U.S. RMBS Cash Flow Analysis Criteria' (
--'U.S. RMBS Surveillance and Re-REMIC Criteria' (
--'U.S. RMBS Qualified and Non-Qualified Mortgage Criteria' (
--'Counterparty Criteria for Structured Finance and Covered Bonds' (
--'Counterparty Criteria for Structured Finance and Covered Bonds: Derivative Addendum' (
--'Criteria for Interest Rate Stresses in Structured Finance Transactions and Covered Bonds' (
--'Rating Criteria for U.S. Residential and Small Balance Commercial Mortgage Servicers' (
--'Rating Criteria for Structured Finance Servicers' (
--'Global Structured Finance Rating Criteria' (
--'Criteria for Rating Caps and Limitations in Global Structured Finance Transactions' (
Source: Fitch Ratings
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