Rating agencies adopt new fee structure for RMBS

Standard & Poor's, Moody's and Fitch have agreed fee reforms at the behest of New York State attorney-general Andrew Cuomo.

The changes affect the loan data required for rating residential mortgage-backed security (RMBS) asset pools, as well as the fee structure charged by the rating agencies.

Previously, rating agencies were not paid for initial reviews of portfolios or for negotiations relating to the structuring for those pools. As a result of extended discussions with Cuomo, the agencies have

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