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Fitch Reviews 41 U.S. GSE-Credit Risk Transfer Transactions; Resolves UCO
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Fitch Ratings reviewed 706 classes from 41 GSE credit risk transfer transactions by Fannie Mae, Freddie Mac, and PennyMac. 149 classes were upgraded, 513 affirmed, and 44 paid in full. 525 ratings are 'AA+sf' with a Stable Outlook. The review noted decreased expected losses, especially in high LTV pools, due to updated RMBS Criteria. Operational risks are well controlled, but counterparty risks remain a concern. The review reflects changes in Fitch's collateral analysis and credit enhancement improvements.
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