Moody’s, Fitch Enhance Approach to Rating Residential MBS Resecuritization
March 12, 2010
Moody’s Investors Service and Fitch Ratings have updated their ratings criteria for re-securitized non-agency MBS, the dominant form of new issuance over the past two years. Most re-securitizations involve bonds originally issued as part of a real estate mortgage investment conduit. In re-REMIC transactions, one or more securities are pledged to an owner’s trust and the cash...