Moody’s Calls RMBS 3.0 Transaction Party Matrix a Credit Positive for PLS

On Wednesday, November 11th, Moody’s Investor Services published a report describing how SFIG’s RMBS 3.0 Transaction Parties framework is a credit positive for private label MBS. According to Moody’s the framework will help to create a stronger governance structure for PLS due to two beneficial features: the expanded transaction parties framework, and the inclusion of a deal agent role to provide independent oversight of the trust and represent investors’ interests.

Moody’s states that the comprehensive list of transaction parties’ roles and responsibilities strengthens RMBS transaction governance by identifying the parties accountable for each part of the transaction and providing clear expectations for each participant. The report describes the framework as a “benchmark giving market participants an easy reference point with which to compare the governance framework of any particular transaction to evaluate risk.”

The Transaction Parties Matrix is a key element of SFIG’s RMBS 3.0 Third Edition Green Papers released on Tuesday. To learn more about RMBS 3.0 or to engage in its future work, please contact

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