The SEC or another federal entity should map credit ratings among competing rating services, similar to efforts by regulators in other countries, according to Morningstar. The firm said rating mapping can help keep competition strong among rating services.
Fitch is allowing ratings for certain CRT issuance from banks to be higher than the rating on the issuer. The deals need various features to receive higher ratings.
San Diego-based Ascent and Washington, DC-based MPOWER separately began marketing their first student loan ABS in recent weeks. The firms operate online platforms and partner with banks on originations.
The National Association of Insurance Commissioners is working to establish a process that would allow the regulator to alter the ratings assigned to certain MBS and ABS held by insurance companies.
Members of the National Association of Insurance Commissioners defended NAIC’s plan to allow state insurance commissioners to overrule the ratings assigned to MBS and ABS held by insurance companies.
The rating service will assess expected payments from private mortgage insurers, with implications for MI-linked note issuance and potentially non-agency MBS with loans that have private MI.
After receiving intense criticism and a warning from the DOJ, S&P revised a proposal for assessing risk-based capital at insurance companies. One of the changes involves MBS and ABS.