DBRS Publishes Updated European RMBS Methodology and Jurisdictional Addenda

DBRS has today published an updated version of its “Master European Residential Mortgage-Backed Securities Rating Methodology and Jurisdictional Addenda,” including the addition of the finalised German addenda. DBRS published a Request for Comment for the German addendum on 25 September 2015. The report describes the DBRS rating methodology for European residential mortgage portfolios and forms part of the DBRS criteria for rating European residential mortgage-backed securities (RMBS) and other transactions linked to residential mortgage assets including covered bonds. Please also refer to the appropriate jurisdictional RMBS methodologies at the end of the report for additional detail regarding DBRS asset analysis.

DBRS did not receive any comments from the market on the German addendum. In the process of finalising the German addendum, DBRS conducted a review of its outstanding German RMBS transactions and concluded that no rating actions will be taken as a result.