The current standard language in leveraged loan documents may expose issuers to heightened credit risk and a spike in debt service costs when LIBOR is no longer viable, according to Fitch Ratings.

The debate that won't go away: Nonbank risk to the financial system. Time to worry? The CSBS weighs in.

The share of unrated private placements of non-agency MBS fell sharply in the first quarter as Fitch edged into the lead.

Morningstar Credit Ratings plans to increase the types of assets it will consider for credit ratings. This month, it published proposed rating methodologies for MBS backed by reverse mortgages and cash flows from Property Assessed Clean Energy assessments on residential properties.

Several rating services have received gentle warnings from the Securities and Exchange Commission for failing to follow policies and procedures, according to the latest annual report from the federal regulator.

The Federal Housing Finance Agency proposed new standards Fannie Mae and Freddie Mac must use to consider approving new credit-scoring models.

DBRS continued to rank as the most active rating servicing in non-agency MBS as of the end of the third quarter, with S&P Global leading the industry in ABS ratings, according to a new ranking by Inside MBS & ABS. [Includes two data charts.]

VantageScore Solutions has hired Emre Sahingur, a former chief risk officer for model risk management at Fannie Mae, as senior vice president for predictive analytics, research and product management.

This week, Ginnie Mae issued an all-participants memo dictating new standards for firms seeking to become issuers, including the stipulation that applicants submit to a corporate credit evaluation. Ginnie said the financial exercise will be “similar to those employed by credit rating agencies.” The evaluation will determine whether an applicant is qualified to be an issuer or whether additional criteria should be imposed even if the basic standards are met. Applicants that rely on a subservicer arrangement will be scrutinized even more. The bulletin also notes that, effective immediately, the agency is implementing new notification requirements for MBS issuers engaged in “certain subservicer advance or servicing income agreements, which do not require prior Ginnie Mae approval, but can impact an issuer’s ongoing liquidity position and financial obligations.” While Ginnie currently permits subservicers to advance ...