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ARCHIVE | Criteria | Structured Finance | Legal: Anti-Predatory Lending Alert: Standard & Poor's Revises Criteria Related to Anti-Predatory Lending Laws May 04
Standard & Poors, May 2004
Abstract
Standard & Poor's Ratings Services is announcing that effective today for all first version loan pools received on or after today for analysis, it will require an addition to credit enhancement for certain loans included in its rated transactions that are governed by anti-predatory lending laws. As discussed in this release, this addition to credit enhancement may be waived if a seller of the loans into a securitization (Seller) meets certain financial capacity requirements. Since publishing its initial criteria relating to anti-predatory lending laws on Jan. 16, 2003, Standard & Poor's has continued to review such lending laws as they have been enacted. If, in Standard & Poor's opinion, an anti-predatory lending law imposes liability on purchasers or assignees (assignee...
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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