Relevant:
- S&P cuts 1,078 U.S. Alt-A RMBS ratings to 'D'
- Moody's: second lien RMBS woes may dent bond insurer ratings
- Moody's Downgrades Continue on Another $22bn of RMBS
- Related topics: National Association of Insurance Commissioners (NAIC) Mortgage-backed bonds Money Management Institute (MMI) Ratings agencies under fire over residential-mortgage-backed securities
- Fitch Updates Ratings Model; Projects Steep Housing Price Declines
2009-11-07 — housingwire.com
" The National Association of Insurance Commissioners (NAIC) on Thursday approved a proposal to establish a new model for determining ratings of residential mortgage-backed securities (RMBS).The new model will establish ratings designations for approximately 18,000 RMBS owned by US insurers by the end of 2009. It will by extension help to determine the risk-based capital requirements of these RMBS."
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