S&P Issues Criteria for NIMs Backed by Seasoned Subprime MBS Deals
July 30, 2004
Concerns about the timing of losses has led Standard & Poor’s to issue new criteria for rating seasoned net interest margin deals. The criteria, issued July 23, covers both Re-NIMs, or residuals that are securitized for a second time after the underlying transaction is paid off, and fresh NIMs issued four months or more after the underlying deal closes. The issue is potentially important