Fitch Updates RMBS Surveillance Criteria

Fitch Ratings has updated the criteria it uses to monitor and analyze outstanding U.S. residential mortgage-backed securities for potential rating changes, including a revised model for the prime sector; changes to servicer advancing assumptions for delinquent loans; the use of principal recovery percentages rather than break loss/loss coverage ratios to determine ratings; and revisions to how distressed ratings are determined, among other things.