mortgage insurance

Rating Agency Developments

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On August 10, 2016, KBRA published its rating methodology for global closed-end fund securities issuances. Report.

On August 10, 2016, KBRA published its rating methodology for global investment funds. Report.

On August 10, 2016, KBRA published its rating methodology for enhanced equipment trust certificates and secured aircraft debt. Report.

On August 10, 2016, KBRA published its rating methodology for global passenger airlines. Report.

On August 9, 2016, Fitch updated its rating criteria for sports facilities, leagues and franchises. Report.

On August 8, 2016, S&P published its methodology for rating corporate cash flow and synthetic collateralized debt obligations (CDOs). Report.

On August 8, 2016, S&P published its methodology for rating above the sovereign in structured finance transactions. Report.

On August 4, 2016, Fitch published its rating criteria for SHFA mortgage insurance or guarantee funded programs. Report.

On August 4, 2016, Fitch updated its rating criteria for commercial mortgage-backed securities and loans in EMEA. Report.

PNC Bank and Freddie Mac Reach Settlement Agreement

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On December 6, PNC Bank announced an agreement in principle to an $89 million dollar settlement agreement with Freddie Mac resolving outstanding and potential repurchase claims arising out of the sale of some 900,000 loans to Freddie Mac between 2000 and 2008.  The settlement also covers existing and future claims for losses due to denials, rescissions or cancellations of mortgage insurance.  Press Release.

Rating Agency Developments

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On August 12, Fitch updated its core corporate criteria reports. Fitch Release.

On August 11, Fitch updated its criteria for rating insurance-linked securities. Fitch Release.

On August 11, Fitch updated its criteria for rating SPV currency swap obligations in structured finance transactions. Fitch Release.

On August 11, Fitch updated its criteria for rating repackaged senior structured finance notes. Fitch Release.

On August 10, Fitch updated its assumptions used in assessing the credit risk of residential mortgage loan pools in various regions. Fitch Portuguese Release. Fitch Italian Release. Fitch German Release. Fitch European Release.

On August 10, Fitch updated its corporate and project finance CDO rating criteria. Fitch Release.

On August 10, Fitch published its Asia-Pacific (APAC) RMBS criteria and updated its Australian RMBS rating criteria as an addendum to this report. The APAC RMBS framework will replace the Australian Residential Mortgage Default Criteria (dated April 2008) and the Criteria for Rating Japanese RMBS (dated November 2001). Fitch Release (APAC RMBS). Fitch Release (Australian RMBS).

On August 10, Fitch published its global criteria for lenders’ mortgage insurance in RMBS transactions. Fitch Release.

On August 10, Fitch published its APAC consumer ABS rating criteria. Fitch Release.

On August 10, Fitch updated its U.S. water and sewer revenue bond rating criteria. Fitch Release.

On August 9, Fitch updated its structured finance rating caps criteria. Fitch Release.

On August 5, Fitch updated its rating criteria for toll roads, bridges, and tunnels. Fitch Release.

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