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

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