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Introduction

Structured Finance

July 2008
07.03.08 Transition Study: Structured Finance Rating Transition And Default Update As Of June 27, 2008 (PDF)
June 2008
06.26.08 Transition Study: Structured Finance Rating Transition And Default Update As Of June 20, 2008 (PDF)
06.24.08 Credit FAQ: The Basics Of Credit Enhancement In Securitizations
06.19.08 Transition Study: Structured Finance Rating Transition And Default Update As Of June 13, 2008 (PDF)
06.13.08 Transition Study: Structured Finance Rating Transition And Default Update As Of June 6, 2008 (PDF)
06.05.08 Transition Study: Structured Finance Rating Transition And Default Update As Of May 30, 2008 (PDF)
May 2008
05.30.08 Transition Study: Structured Finance Rating Transition And Default Update As Of May 28, 2008 (PDF)
05.22.08 Transition Study: Structured Finance Rating Transition And Default Update As Of May 16, 2008 (PDF)
05.15.08 Transition Study: Structured Finance Rating Transition And Default Update As Of May 9, 2008 (PDF)
05.06.08 Transition Study: Structured Finance Rating Transition And Default Update As Of May 2, 2008 (PDF)
05.01.08 Transition Study: Structured Finance Rating Transition And Default Update As Of April 25, 2008 (PDF)
April 2008
04.25.08 Transition Study: Structured Finance Rating Transition And Default Update As Of April 18, 2008 (PDF)
04.18.08 Transition Study: Structured Finance Rating Transition And Default Update As Of April 11, 2008 (PDF)
04.11.08 Transition Study: Structured Finance Rating Transition And Default Update As Of April 4, 2008 (PDF)
04.04.08 Transition Study: Structured Finance Rating Transition And Default Update As Of March 28, 2008 (PDF)
March 2008
03.28.08 Transition Study: Structured Finance Rating Transition And Default Update As Of March 21, 2008 (PDF)
03.19.08 Transition Study: Structured Finance Rating Transition And Default Update As Of March 14, 2008 (PDF)
03.14.08 Transition Study: Structured Finance Rating Transition And Default Update As Of March 7, 2008 (PDF)
03.06.08 Transition Study: Structured Finance Rating Transition And Default Update As Of Feb. 29, 2008 (PDF)
February 2008
02.27.08 Transition Study: Structured Finance Rating Transition And Default Update As Of Feb. 22, 2008 (PDF)
02.21.08 Transition Study: Structured Finance Rating Transition And Default Update As Of Feb. 15, 2008 (PDF)
02.14.08 Transition Study: Structured Finance Rating Transition And Default Update As Of Feb. 12, 2008 (PDF)
02.06.08 Transition Study: Structured Finance Rating Transition And Default Update As Of Feb. 1, 2008 (PDF)
02.06.08 Transition Study: North American CMBS Ratings Were Stable In 2007, But Signs Point To A Tougher 2008 (PDF)
02.01.08 Transition Study: U.S. ABS Credit Quality Improved In 2007, But Collateral Performance May Be Sliding (PDF)
02.01.08 Transition Study: Credit Quality Of Global CDOs Of ABS And SIVs Took A Hit In 2007, While CLOs Performed Well (PDF)
02.01.08 Transition Study: In 2007, U.S. Housing Market Weakness Prompted Rating Volatility In Global Structured Securities (PDF)
January 2008
01.23.08 Transition Study: Structured Finance Rating Transition And Default Update As Of Jan. 18, 2008 (PDF)
01.16.08 Transition Study: Structured Finance Rating Transition And Default Update As Of Jan. 11, 2008 (PDF)
01.09.08 Transition Study: Structured Finance Rating Transition And Default Update As Of Jan. 4, 2008 (PDF)
01.03.08 Transition Study: Structured Finance Rating Transition And Default Update As Of Dec. 28, 2007 (PDF)
December 2007
12.28.07 Transition Study: Structured Finance Rating Transition And Default Update As Of Dec. 21, 2007 (PDF)
12.18.07 Transition Study: Structured Finance Rating Transition And Default Update As Of Dec. 14, 2007 (PDF)
November 2007
11.30.07 Transition Study: U.S. Housing Market-Related Securities Lead The Credit Quality Decline For Global Structured Securities Through October 2007 (PDF)
11.01.07 S&P's Joanne Rose On The Lessons Learned About - And The Future Of - Structured Finance
August 2007
08.23.07 The Fundamentals of Structured Finance Ratings
April 2007
04.25.07 Ratings Roundup: First-Quarter 2007 Global Structured Finance Performance Trends (PDF)
January 2007
01.26.07 Transition Study: For Global Structured Securities, 2006's Solid Credit Performance Was Overshadowed By Weak Housing Market Fundamentals (PDF)
October 2006
10.19.06 Transition Study: Rating Transitions Q1-Q3 2006: Average Credit Quality Of Global Structured Securities Rises (PDF)

Residential Mortgage-Backed Securities (RMBS)

July 2008
07.02.08 Credit FAQ: Standard & Poor’s Rating Methodology And Assumptions For U.S. RMBS Resecuritizations
May 2008
05.28.08 Projected Losses For U.S. Alternative-A RMBS Issued In First-Half 2007
05.07.08 The Anatomy Of Loss Severity Assumptions In U.S. Subprime RMBS
05.05.08 What Standard & Poor's Is Doing To Increase Transparency And Information To Enhance U.S. RMBS Ratings
05.01.08 Standard & Poor’s Halts Rating Process For U.S. Closed-End Second-Lien Mortgage Loans
April 2008
04.30.08 Criteria: Application Of Revised Cash Flow Assumptions For U.S. Residential Mortgage-Backed Securities
04.17.08 U.S. Prime Jumbo RMBS Performance Update: March 2008 Distribution Date
04.17.08 U.S. Alternative-A RMBS Performance Update: March 2008 Distribution Date
04.17.08 U.S. Subprime RMBS Performance Update: March 2008 Distribution Date
04.17.08 U.S. Closed-End Second-Lien RMBS Performance Update: March 2008 Distribution Date
04.17.08 U.S. HELOC RMBS Performance Update: March 2008 Distribution Date
04.11.08 Criteria Methodology And Assumptions: U.S. RMBS HECM Reverse Mortgage Analysis Assumptions Revised
04.09.08 Standard & Poor's Requests Access To U.S. Loan-Level Performance Data For Surveillance; Issuers To Confirm Data Accuracy
04.03.08 Criteria: U.S. RMBS Interest Rate Vectors For June 2008 Revised
March 2008
03.26.08 The Mixed Impact Of Falling Rates On U.S. Alt-A And Subprime Borrowers
February 2008
02.25.08 U.S. Prime Jumbo RMBS Performance Update: January 2008 Distribution Date
02.25.08 U.S. Alternative-A RMBS Performance Update: January 2008 Distribution Date
02.25.08 U.S. Subprime RMBS Performance Update: January 2008 Distribution Date
02.25.08 U.S. Closed-End Second-Lien RMBS Performance Update: January 2008 Distribution Date
02.25.08 U.S. HELOC RMBS Performance Update: January 2008 Distribution Date
02.19.08 RMBS Trends: The New Face Of U.S. Alt-A RMBS: A Smaller Market, And Less-Risky Loans
02.19.08 Criteria: U.S. RMBS Nonconforming (Jumbo) Reverse Mortgage Analysis Assumptions Revised
02.14.08 RMBS Trends: Paradigm Shift In U.S. Subprime RMBS Market Continues Through Fourth-Quarter 2007
02.13.08 The New Plan To Forestall Home Foreclosures Could Have Positive Implications For U.S. RMBS
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02.04.08 RMBS Trends: Amid Volatility, U.S. Third-Quarter 2007 Prime Jumbo Securitization Volume Is Slightly Down
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January 2008
01.31.08 Summary Of Findings And Response To Request For Comment On Providing U.S. RMBS Monthly Loan-Level Performance Data To Standard & Poor’s
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01.23.08 S&P Focuses On Appraisals For Residential Properties And Encourages Use Of Automated Valuation Methods
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December 2007
12.27.07 RMBS Trends: Third-Quarter Alt-A Issuance Drops Dramatically From Its All-Time High
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12.20.07 How Standard & Poor's Is Revising Its Loss Curves For U.S. Closed-End Second-Lien RMBS
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12.20.07 S&P Analyzes The Impact Of Higher Overcollateralization Floor Guidelines On U.S. RMBS Transactions
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12.20.07 The Spotlight's On U.S. Alt-A RMBS Issuers As Performance Deteriorates Rapidly
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12.14.07 The Potential Effect Of Rate Freezes On S&P-Rated U.S. First-Lien Subprime RMBS
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12.10.07 RMBS Trends: U.S. Subprime Mortgage Paradigm Shifts As The Market Recalibrates Risk
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12.06.07 Standard & Poor's Views On Freezing Interest Rates On U.S. Subprime ARMs

November 2007
11.20.07 RMBS Trends: U.S. Second-Quarter Prime Jumbo Securitization Volume Declines
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11.13.07 S&P RFC Providing U.S. RMBS Monthly Loan-Level Performance Data;Response Deadline Nov. 30, '07
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11.09.07 Standard & Poor's Enhances LEVELS® 6.1 Model
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11.05.07 Standard & Poor's Alters Assumptions For LEVELS 6.1 Release

October 2007
10.24.07 Criteria: Request For Comment: Providing U.S. RMBS Monthly Loan-Level Performance Data To Standard & Poor’s (PDF)
10.23.07 Criteria: Proposed File Format: Standard & Poor's Request For Ongoing U.S. Residential Loan-Level Information
10.22.07 Article Details S&P’s Approach To Use Of Loss Curves For Determining Default Probability (PDF)
10.19.07 Standard & Poor’s Revised Default and Loss Curves for U.S. Subprime RMBS (PDF)
10.17.07 Standard & Poor’s Ratings Services Reviews Ratings on Certain U.S. Residential Mortgage-Backed Securities Issued in 2007 (PDF)
10.16.07 S&P Alters Modeling Assumptions For Step-Down Provisions To Enhance Credit Support For US RMBS
10.09.07 Standard & Poor's Revises Assumptions For Analyzing U.S. RMBS Pools That Contain Modified Loans

September 2007
09.05.07 Second-Quarter U.S. RMBS Subprime Volume Declines Amid Tighter Standards, S&P Says

August 2007
08.31.07 RMBS Trends: U.S. RMBS Subprime Securitization Volume Declines Amid More-Stringent Guidelines

June 2007
06.26.07 Performance Of U.S. RMBS Alt-A Loans Continues To Deteriorate

May 2007
05.08.07 RMBS Trends: Tighter U.S. Subprime Mortgage Underwriting Showing Up Slowly In Rated Securitizations

April 2007
04.27.07 Special Report: Subprime Lending: Measuring The Impact
04.27.07 For U.S. Subprime RMBS, Positive Implications When Compared With Manufactured Housing ABS
04.17.07 Standard & Poor’s Describes Impact of Subprime Mortgage Market on Residential Mortgage Backed Securities (RMBS)

March 2007
03.22.07 A Comparison Of 2000 And 2006 Subprime RMBS Vintages Sheds Light On Expected Performance
03.14.07 Subprime Loan Servicers Step Up Loss Mitigation Efforts To Avoid Foreclosures

February 2007
02.28.07 RMBS Trends: U.S. Subprime Market Continues Correction As Issuers Strengthen Underwriting Standards

January 2007
01.26.07 Transition Study: U.S. RMBS Upgrades Are Down And Downgrades Are Up In 2006
01.23.07 Standard & Poor's Reexamines Risks Of Early Payment Defaults In U.S. RMBS
01.18.07 The Top 10 Hot Topics From 2006 That Will Shape The RMBS Market In 2007
01.16.07 For U.S. RMBS, 2007 Will Be A Year Of Transition For Issuance And Performance Concerns
01.16.07 Ratings Roundup: Fourth-Quarter 2006 Global Structured Finance Performance Trends

Financial Institutions

March 2008
03.13.08 More Subprime Write-Downs To Come, But The End Is Now In Sight For Large Financial Institutions
03.13.08 Subprime Write-Downs Could Reach $285 Billion, But Are Likely Past The Halfway Mark
January 2008
01.17.08 After the Credit Boom, Banks And Brokers Face A Sobering Year In 2008
November 2007
11.30.07 List Of Rated Government Investment Pools
11.30.07 S&P Rated Local Government Investment Pools Weathering Storm
11.05.07 Industry Report Card: European Insurers Prove Resilient To Liquidity Concerns After Credit Crunch
11.01.07 Banks Begin To Clear The Leveraged Finance Overhang
October 2007
10.30.07 Financial Institutions Face Tests In Managing Exposures To Hedge Funds And Leveraged Vehicles
10.23.07 Creditworthiness Of U.S. Banks Does Not Hinge On Their Adopting "Super-SIV"
10.15.07 Northern Rock Ratings Unchanged On Proposed Equity Injection From Consortium Led By Virgin Grp
10.11.07 Northern Rock And The Liquidity Squeeze: Implications For U.K. Banks In The Longer Term
10.09.07 Northern Rock PLC Ratings Unchanged On Expanded Guarantee And Liquidity Arrangements
10.02.07 Credit FAQ: Accounting Ramifications Of The Recent Mortgage-Lending Disruption For Financial Institutions
September 2007
09.19.07 German Banks' Subprime Mortgage And Structured Vehicle Exposure Concerns Are Overstated
09.18.07 What Are The Implications Of Northern Rock's Bailout For Other U.K. Banks?
August 2007
08.31.07 Strong Fundamentals And Central Banks Should See Financial Institutions Through Rough Markets
08.21.07 Rated Gulf Banks Show Limited Exposure To U.S. Subprime, Special S&P Survey Shows
08.10.07 Credit Trends: Putting Today's Credit Market Risks In Perspective
08.10.07 U.S. Subprime Rating Impact Limited For Western European Banks
08.07.07 Market Trepidations Overshadow Strong 2Q Financial Performance For U.S. Broker Dealers
July 2007
07.25.07 Leveraged Finance Market Jitters Highlight Risks To Banks
May 2007
05.08.07 Subprime Mortgage Lenders: Transition In A Stressed Mortgage Cycle
April 2007
04.19.07 Subprime Stress And Its Limited Relationship To Credit Card Lender Risk
March 2007
03.16.07 For Big U.S. Brokerages, Subprime Woes Aren't Hurting Profits
03.13.07 Credit FAQ: Will Subprime Woes Spread To The Wider Mortgage Market?
03.09.07 Industry Report Card: Subprime Mortgage Lenders Descend Into The Maelstrom

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