Credit Suisse has adjusted the representations and warranties included in each of its recent non-agency MBS deals, reacting to criticism from investors that the reps and warrants do not meet models set by the American Securitization Forum. While the new jumbo MBS issued by Credit Suisse last week made some improvements on reps and warrants compared with its previous deals, the issuer continues to experiment with somewhat looser standards. “Credit Suisse has introduced several new elements to the rep and warrant structure in recent securitizations which has caused some diverging opinions in the securitization community,” according to analysts at Bank of America Merrill Lynch. “While the ASF has provided a starting point with their model reps, it will likely take the market some time to find the right balance between investors and originators.” Issuance from Redwood Trust has been seen...