March 2007

Structured finance: Moody’s to report on US sub-prime RMBS pre-sale

by Jethro Wookey

Moody’s announced in February its intention to start publishing pre-sales reports for the faltering US sub-prime RMBS market. These reports will include opinions on the expected cumulative losses and key structural considerations, as well as a transaction’s provisional rating.


"These reports will open a dialogue with investors during the period when they need information the most," says Warren Kornfeld, a managing director in Moody’s structured finance group.

But why now? Moody’s has never published pre-sales reports in this market before, and some may see their decision as an indicator of...


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