12.17.19
Fitch Ratings, a credit ratings firm, may use SFA’s new framework aimed at prioritizing only riskier TRID errors as a mechanism to assign grades to loans sold into residential mortgage-backed securities. The move aims to reduce ratings-related compliance burdens substantially. In a report on Tuesday, the agency wrote: “Fitch believes that the application of the TRID Grid 3.0 will meaningfully reduce the number of minor compliance exceptions in RMBS pools; this refined approach should help the industry to concentrate its analysis on the operational focus of the more significant issues.”
Read more via National Mortgage News.