Volume 2014 - Number 3
January 31, 2014
Non-QMs in MBS Face Higher Loss Expectations
Mortgages included in new non-agency mortgage-backed securities that fall outside of the safe harbor for qualified mortgages will be assigned higher loss expectations, according to criteria released last week by Standard & Poors. Other rating services have released similar criteria, with credit-enhancement requirements expected to be higher for non-agency MBS that include loans other than safe harbor QMs. The Consumer Financial Protection Bureaus ability-to-repay rule established a number of ...
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