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Article: Moody's Proposes Enhancements to Non-Prime RMBS Securitization.
- Article from:
- Business Wire
- Article date:
- September 26, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Moody's Investors Service is proposing a series of enhancements aimed at bringing greater transparency to the securitization process for non-prime residential mortgage-backed securities (RMBS). The proposed changes include third-party oversight of the accuracy of loan information and making loan-level performance information available to transaction participants. In addition, Moody's proposes that issuers provide stronger and more uniform representations and warranties to investors regarding loan information, and that a third party be responsible for monitoring and enforcing the representations and warranties. These proposals reflect conversations Moody's has ...