...This exposure draft details Fitch Ratings' proposed changes to its loan-level model for estimating losses on U.S. mortgage pools collateralizing RMBS transactions. Fitch invites feedback from market participants on the proposed methodology. Comments should be sent to rmbsfeedback@fitchratings.com by March 8, 2016. A summary of key proposed changes and questions for the market can be found starting on page 2. This report should be read in conjunction with the related criteria listed below left. The core principle underpinning the model remains the interaction between borrower equity and sustainable market value declines (sMVDs) in determining the expected loss for each loan. The methodology continues to consider loan-level attributes and macroeconomic factors in deriving loss expectations....
