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ARCHIVE | Criteria | Structured Finance | RMBS: U.S. Residential Subprime Mortgage Criteria: Appendix F: Criteria For FICO Scores Sep 04
Standard & Poors, Sep 2004
Abstract
Standard & Poor's has approved criteria for the use and selection of FICO scores and the selection of those scores. A newly originated loan requires a 'representative' consumer credit score that will be used in Standard & Poor's rating's process. The score for each borrower is collected from each of the three credit repositories. The middle score is then selected for both the primary and secondary borrower. The lower of the two middle scores is the representative score used in the automated underwriting or mortgage score algorithm. If one borrower has only two scores and the other borrower has three, then the middle score of the three should be selected. The lower of the two should then be selected. Then...
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.
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