DBRS Morningstar Requests Comments on Proposed Updates to the Representations and Warranties Criteria for U.S. RMBS Transactions

DBRS Morningstar is requesting comments on the proposed updated Representations and Warranties Criteria for U.S. RMBS Transactions (the RFC Criteria). The RFC Criteria outlines the representations and warranties framework expected by DBRS Morningstar in U.S. RMBS securitizations, including the single-family rental and reverse mortgage asset classes.

The RFC Criteria does not propose any updates to the representations and warranties framework for traditional mortgages from the prior methodology published on April 22, 2020. However, DBRS Morningstar deems the update to be material due to the inclusion of the representations and warranties for single-family rental and reverse mortgage transactions in the proposed RFC Criteria. There is no ratings impact as a result of the update to the RFC Criteria.

Comments should be received on or before May 14, 2023. Please submit your comments to the following email address: [email protected].

DBRS Morningstar publishes on its website all comments received, except in cases where confidentiality is requested by the respondent.

Notes:
DBRS Morningstar methodologies are publicly available on its website www.dbrsmorningstar.com under Methodologies & Criteria.

For more information on this methodology or on this industry, visit www.dbrsmorningstar.com or contact us at [email protected].