Fitch Publishes List of Acceptable U.S. RMBS Third Party Due Diligence Firms for 1Q'15

NEW YORK--()--Fitch Ratings conducts annual reviews of active third-party due diligence firms involved in RMBS securitizations. These independent third party review (TPR) companies review a sample of loan files backing a RMBS transaction and:

--Compare reported loan level data against information in the loan file;

--Review if loans were underwritten according to stated underwriting guidelines;

--Provide a confirmation as to the QM status of loans that are subject to the ATR rule;

--Validate whether the value of the underlying property is supportable;

--Determine if loans were originated in accordance with all laws and regulations.

These TPR findings are factored into Fitch's analytical process, and material findings may impact credit enhancement levels or cause Fitch to decline to rate a transaction.

Fitch's review of TPR firms is focused on confirming that they have adequate processes and controls in place and are capable of conducting effective due diligence reviews. As part of its assessment, Fitch considers various factors including the company's operating history, mortgage underwriting expertise, quality control processes and procedures, staffing and training, and the adequacy of technology and reporting. In addition, Fitch will assess the firm's procedures for ensuring independence of due diligence reviews from other potential conflicts of interest. For more information on Fitch's review process and its impact on RMBS ratings, please review the 'U.S. RMBS Master Rating Criteria' dated July 1, 2014.

Fitch maintains a list of TPR firms reviewed by the agency and deemed to be acceptable. It is updated on a quarterly basis.

Acceptable TPR Firms for 1Q2015:

--American Mortgage Consultants (last review completed May 9, 2014)

--Clayton Services, LLC (last review completed Aug. 8, 2014)

--Digital Risk (last review completed Nov. 18, 2014)

--Edge Mortgage Advisory Company, LLC (last review completed Jan. 29, 2015)

--IngletBlair (last review completed Jan. 29, 2015)

--JCIII & Associates (last review completed Sept. 25, 2014)

--LenderLive Network (last review completed Nov. 25, 2014)

--Opus Capital Markets Consultants, LLC (last review completed July 7, 2014)

--Stewart Lender Services (last review completed June 5, 2014)

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'U.S. RMBS Master Rating Criteria' (July 1, 2014).

Applicable Criteria and Related Research:

U.S. RMBS Master Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=750719

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Contacts

Fitch Ratings, New York
Media Relations
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com
or
Director
Amit Arora, +1-212-612-7874
or
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004

Contacts

Fitch Ratings, New York
Media Relations
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com
or
Director
Amit Arora, +1-212-612-7874
or
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004