Bayview pulls RPL after S&P and Fitch spar

By Matthew Scully
07 May 2014

Bayview Financial has pulled from the market its $185m securitization of subprime residential mortgages, following Fitch Ratings’ public rebuke of Standard & Poor’s preliminary triple-A ratings.

Rating agency S&P withdrew late last week preliminary ratings it assigned to Bayview’s BOMFT 2014-9RPL, the first re-performing loan securitization since the crisis to receive public ratings. It is also requesting from Bayview additional information regarding property valuations and loss severity.

“S&P needs more information regarding the deal, ...

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