A new predatory lending law went into effect in Nevada on Oct. 1, several days after Standard and Poor's Ratings Services said it would continue to rate structured finance transactions governed by the act.The law -- which pleased consumer groups for its provisions concerning equity stripping, unnecessary refinancing, and the packaging of credit insurance with mortgage loans -- does not contain the type of assignee liability that concerns rating agencies. Therefore, S&P said it will rate loan pools that include Nevada home loans with no additional credit enhancement.
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