DBRS Publishes Updated Operational Risk Assessment for U.S. ABS Servicers with Timeshare Loan Addendum

DBRS, Inc. (DBRS) has today published an updated version of its methodology for the operational risk assessment of U.S. Asset-Backed Securities (ABS) servicers to include an addendum for Timeshare Loan servicers. This methodology, effective as of the date of this press release, supersedes the previous methodology dated June 2011.

In this methodology, DBRS outlines its procedures used to evaluate the quality of the parties that service or conduct backup servicing on the loans (or leases as applicable) that are about to be securitized or have previously been securitized in a transaction rated by DBRS. While DBRS does not assign formal ratings to these processes, it does conduct operational risk reviews to determine if a servicer is acceptable and incorporates the results of the review into the rating process for new transactions and into the surveillance process for outstanding transactions rated by DBRS.

The DBRS methodology covers the following asset types:

• Auto Loan
• Auto Leases
• Wholesale Auto (Dealer Floorplan)
• Rental Cars
• Credit Cards
• Equipment Leases
• Private Student Loans
• Federal Family Education Loan Program (FFELP) Student Loans
• Insurance Premium Finance
• Global Film Rights
• Timeshare Loans

DBRS criteria and methodologies are publicly available on its website www.dbrs.com under Methodologies.