Market Overview

Fitch Consolidates & Updates Rating Criteria for Structured Finance Servicers

NEW YORK--(BUSINESS WIRE)--

Fitch Ratings has updated its criteria for assessing and analyzing the operational risk of servicers of structured finance products including RMBS, CMBS and ABS transactions.

Although Fitch's servicer ratings remain country-specific, the approach, methodology and process are consistent across all jurisdictions.

The updated report replaces Fitch's Aug. 16, 2010 piece ('Global Rating Criteria for Structural Finance Servicers'). The criteria remain fundamentally unchanged.

The updated and consolidated criteria report contains appendixes for the following jurisdictions and replaces the previous separate reports as indicated:

--United Kingdom Appendix (replaces 'Rating Criteria for European Mortgage Loan Servicers - UK Market Addendum');

--Netherlands Appendix (replaces 'Rating Criteria for European Mortgage Loan Servicers - the Netherlands Market Addendum');

--Germany Appendix (replaces 'Rating Criteria for European Mortgage Loan Servicers - German Market Addendum');

--Italy Appendix (replaces 'Rating Criteria for European Mortgage Loan Servicers - Italian Market Addendum').

The updated report also contains an appendix for the Latin American market and directs the reader to separate reports for U.S. servicer ratings as follows:

--'U.S. Residential and Small Balance Commercial Mortgage Servicer Ratings Criteria' (Jan. 31, 2011);

--'U.S. Commercial Mortgage Servicer Rating Criteria' (Feb. 19, 2011).

Finally, the report 'Rating Criteria for European Mortgage Loan Servicers - Russian Market Addendum' is being removed from the web.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research: Rating Criteria for Structured Finance Servicers

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=699690

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
Diane Pendley
Managing Director
+1-212-908 0777
Fitch Ratings, Inc., One State Street Plaza, New York, NY 10004
or
Robbie Sargent
Senior Director
+44 (0) 20 3530 1404
or
Media Relations:
Sandro Scenga, +1-212-908-0278 (New York)
sandro.scenga@fitchratings.com

 

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