Fitch Ratings CMBS Model To Acknowledge Trustee.
Business Editors
NEW YORK--(BUSINESS WIRE)--July 29, 2002
Fitch Ratings has announced that its CMBS model will incorporate consideration of the trustee's capabilities in carrying out trust administration, agency, and fiduciary duties in CMBS transactions. By incorporating greater
Fitch's CMBS surveillance experience indicates that the trustee plays a significant role in ensuring the smooth functioning of CMBS transactions and can ultimately impact the performance of CMBS securities through proactive administration of their duties as outlined in transactions documents. Trustees that demonstrate specialized CMBS knowledge, information-processing capabilities, document custody operations, and servicer and REMIC compliance monitoring procedures can serve to mitigate certain risks in CMBS structures. Fitch will recognize those institutions whose trust administration operations support the delivery of consistent, investor-oriented information.
Fitch will begin giving credit on new transactions closing from this day forward. The measure of credit provided will be based on Fitch's review of the trustee's operations. To date, Fitch has completed a CMBS trustee review for Wells Fargo and expects that by year-end it will have completed reviews on an additional two to three trustees, representing a significant coverage over the major CMBS trustees. Fitch will conduct the reviews of trustee operations in accordance with its procedures and criteria as outlined in the report entitled 'Reviewing Structured Finance Trustees', which is available on the Fitch Ratings web site at 'www.fitchratings.com' or by contacting Market Services at 1-800-853-4824.
In addition, make sure to read these articles:
- Fitch Rates GS Mortgage Securities Corp. $191.3MM GSAA 2005-R1.
- Fitch Rates $1.0 Billion Fieldstone Mortgage Investment Trust 2004-3.
- Fitch Rates $852MM Fieldstone Mortgage Investment Trust 2004-4.
- Fitch Takes to the Airwaves About Assessing U.S. CMBS Tower Transactions.
- Fitch Gets Technical with New U.S. Multiborrower CMBS Model.
- Fitch Introduces New CMBS Surveillance System S.T.A.R.S.
- Fitch: Defeasance Doubles, Brings Upgrades for U.S. CMBS.
- Anthracite 2004-HY1 Ltd./Corp. Rated by Fitch Ratings.
- Fitch Identifies Centro NP loans in 11 U.S. CMBSTransactions.
- Fitch: CMBS Average Loan Loss Severity To Increase 50% in 2002.
- Fitch Comments on Super Senior 'AAA' Structure in U.S. CMBS Transactions.
- Fitch CMBS Servicer Review Update: Operating Statements.
- Fitch Introduces First Statistically Valid U.S. Multiborrower CMBS Model.
- Fitch Introduces First Statistically Valid U.S. Multiborrower CMBS Model.
- Fitch: U.S. Small Balance CMBS Transactions Should Be More Prominent in 2004.
Email
Digg It
del.icio.us
Business Resources
Sponsored Links
Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy
Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.
© COPYRIGHT 2002 Business Wire
You may not repost, republish, reproduce, package and/or redistribute the content of this page,
in whole or in part, without the written permission of the copyright holder.
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
AllBusiness.com, its parent company D&B, and its affiliates.
