...This report presents Fitch Ratings' criteria assumptions for analyzing securities backed by Mexican residential mortgage loans originated by banks and Sofoles/Sofomes. The criteria assumptions will be used for rating new and existing RMBS transactions while the mortgage loss assumptions will also apply to covered bond (CVB) programs. This report should be viewed together with the report entitled "Rating Criteria for RMBS in Latin America" (February 2014) for a comprehensive understanding of Fitch's approach to assigning new ratings to Mexican RMBS. Fitch's current portfolio is almost exclusively rated on the national rating scale. When assigning international ratings for Mexican RMBS transactions, Fitch will also apply its "Criteria for Rating Securitizations in Emerging Markets" (June 2014). The assumptions utilized in `AAA(mex)' rating stress scenario will be approximately consistent with `BBB+/BBB' international-scale rating scenarios....
