Fitch Adds MH Deal Tracker
Fitch Ratings has added manufactured housing-related transactions to its RMBS Deal Tracker, a Web-based product that provides investors with an array of original deal collateral attributes on Fitch-rated residential mortgage-backed securities and mortgage-related asset-backed securities.
Fitch said it is the first rating agency to offer such a product. The service already includes data on prime and subprime mortgage-backed securities.
"With the addition of manufactured housing transactions to Deal Tracker, Fitch now provides investors with a comprehensive resource of original collateral attributes for comparative and trend analysis purposes," said Joanne Scatassa, managing director at Fitch ratings.
"We welcome investor feedback on Deal Tracker as we continue to develop enhancements for the product," she added.
RMBS Deal Tracker can be downloaded as an Excel-based spreadsheet. The data points made available through this product include average balance, LTV and FICO distributions, property type, occupancy type, documentation type and geographic distribution, as well as deal credit enhancement levels. RMBS Deal Tracker is now available for transactions that Fitch has rated for subprime, manufactured housing, prime jumbo and select Alt-A issuers.
The collateral data is from the time of loan origination, but Fitch has plans to add current data to the Deal Tracker within a year.
In addition, where applicable, Deal Tracker delineates 30-year and 15-year product as well as adjustable- and fixed-rate product. Data for new transactions is added as soon as the transaction closes.
Carole Faber, a senior director at Fitch Ratings, said the RMBS Deal Tracker allows investors to compare collateral characteristics across transactions from different issuers. Currently, 14 manufactured housing lenders are included in the service.
Investors can obtain the RMBS Deal Tracker via Fitch's subscription website. The service was created in response to interest from investors.
"We got feedback from investors that they wanted one place to draw down collateral characteristics," said Carol Faber, a Fitch senior director for subprime mortgages.
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