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ARCHIVE | Criteria | Structured Finance | Legal: Standard & Poor's Addresses New Jersey Predatory Lending Law
Standard & Poors, May 2003
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Abstract
Standard & Poor's Ratings Services announced today that it has reviewed the New Jersey Home Ownership Security Act of 2002 that will become effective on or after Nov. 27, 2003 (the Act). Based on its review, Standard & Poor's has concluded that it will permit certain New Jersey loans governed by the Act and originated on or after the effective date to be included in its rated structured finance transactions. Mortgage loans on properties in New Jersey not governed by the Act may be included in Standard & Poor's structured finance transactions. Among others, these loans include reverse mortgage loans and loans on homes that are not the borrower's principal dwelling, such as loans to finance second homes and investor...
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