DBRS Updates RMBS Methodology To Account for Market Declines
September 5, 2008
DBRS this week updated its assumptions about non-agency MBS due to the rapid declines in the housing market, following similar moves by Fitch Ratings and Standard & Poor in August. The update caused DBRS to downgrade 1,350 classes from 171 residential MBS transactions. Based on data from mortgage servicers and other industry sources, DBRS adjusted default and loss severity assumptions in...