|
|
 |
|
Viewing report
|
|
|
|
ARCHIVE | Criteria | Structured Finance | Legal: New Perfection Criteria for Manufactured Housing Mortgage Loan Structured Transactions Jun 01
Standard & Poors, June 2001
Abstract
On July 1, a substantially revised version of Article 9 of the Uniform Commercial Code will become effective in approximately 45 states. One of the more significant revisions to Article 9 is that sales of loans evidenced by promissory notes, previously not covered by Article 9, are now governed by revised Article 9 and are entitled to its automatic perfection provisions. Another major revision permits the filing of a financing statement to perfect a pledge of loans evidenced by promissory notes. Under current Article 9, delivery of the notes to the secured party, its agent, or custodian is required to perfect a pledge of loans evidenced by promissory notes. Effective July 1, 2001, Standard & Poor's will rely on the...
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.
|
|
|
|
