...This report outlines Fitch Ratings' methodology for analyzing new issue residential mortgage- backed securities (RMBS) backed by re-performing loans (RPLs) and seasoned performing loans purchased in the secondary market. This report replaces the November 2014 report "U.S. RMBS Re-Performing Loan Criteria." The rating and surveillance approaches rely on Fitch's methodologies described in the criteria reports listed below left as well as those described in the collateral analysis section of this report. However, the varied acquisition and servicing histories associated with RPLs and seasoned pools call for slight variations to the listed criteria....
