Fitch Updates 17g-7 Reps and Warranties Report

NEW YORK--(BUSINESS WIRE)-- Link to Fitch Ratings' Report: Representations, Warranties and Enforcement Mechanisms in Global Structured Finance Transactions

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=863817

Fitch Ratings has updated its special report describing the representations, warranties, and enforcement mechanisms (RW&Es) the agency typically sees in structured finance (SF) transactions.

The report has been updated to include the 'typical' RW&Es that Fitch sees in U.S. Residential Mortgage-Backed Securities Servicer Advance Receivables Trust (SART) transactions. The 'typical' RW&Es for SART transactions were derived from reviewing the documentation of recent transactions that Fitch views as representative of the asset class thus defining what the agency regards as 'similar securities,' which will be used as the basis for comparisons in Fitch transaction-level reports.

The SEC's adoption of Rule 17g-7 requires Nationally Recognized Statistical Rating Organizations to include in credit reports a description of the RW&Es available to investors and compare them to 'similar securities.'

The definitions of 'typical' RW&Es are expected to remain somewhat fluid as industry standards in many areas of structured finance continue to evolve. Fitch intends to update this report periodically and, in particular, the various asset-level appendices, to reflect the developments in standards.

The full report, 'Representations, Warranties, and Enforcement Mechanisms in Global Structured Finance Transactions,' is available at 'www.fitchratings.com', or by clicking on the link.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

Fitch Ratings
Steven Stubbs
Senior Director
+1-212-908-0676
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Joanne Wong
Senior Director
+44(0)22-3530-1077
or
Media Relations
Sandro Scenga, New York, +1 212-908-0278
[email protected]

Source: Fitch Ratings

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Anfield Energy closes $6.9M public offering with Uranium Energy
• Moleculin prices $9.3M public offering at $0.75 per share
• ATIF Holdings to acquire GoldCoin Labs in $20M all-share deal