Fitch: Reps and Warranties, Due Diligence and Originator Reviews Will be More Meticulous
July 8, 2011
Fitch Ratings has updated its criteria for non-agency MBS, making changes to its standards for representations and warranties, due diligence and originator reviews to better determine credit risk for new issues. Three separate reports released last week revise existing criteria the rating agency created in 2008. Originator reviews, loan-level due diligence results, and the quality of representations and war-ranties to a transaction are key elements of ...