(The following statement was released by the rating agency)Link to Fitch Ratings' Report: Global Criteria for Lenders' Mortgage Insurance in RMBS
  http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=749070
 SYDNEY, June 23 (Fitch) Fitch Ratings has published its 'Global Criteria for Lenders' Mortgage Insurance in RMBS', which outlines the credit given to lenders' mortgage insurance (LMI) within residential mortgage-backed security (RMBS) transactions. The updated criteria contains only minor changes to the rating framework. These changes will have no rating impact on existing RMBS transactions. Fitch's criteria will continue to give credit to LMI within RMBS transactions on the basis of the LMI's ability to pay claims, as measured by its Insurer Financial Strength rating (IFSR), and a Quality Adjustment that addresses the potential risk arising from the difference between the level of contractual coverage and actual coverage. Actual coverage may be impacted by policy exclusions, denied and reduced claims, and rescissions. Fitch will continue to give credit to LMI through an adjustment to loss severity on a loan-by-loan basis. The criteria has expanded the IFSR range for which credit is given in the rating of RMBS.The Global LMI criteria is also used in the rating of covered bond programmes where residential mortgages are present as collateral. The updated criteria will have no rating impact on existing covered bond programmes.This criteria report replaces the existing criteria of the same name dated 1 August 2013.The Global Criteria for Lenders' Mortgage Insurance in RMBS is available on 
  www.fitchratings.com
  or by clicking on the link above.Contacts: David Carroll Director+61 2 8256 0333Fitch Australia Pty Ltd., Level 15, 77 King St, Sydney, NSW 2000Natasha VojvodicSenior Director, +61 2 8256 0350Gregg Kohansky Managing Director +44-20-3530 1376Rui PereiraManaging Director +1-212-908-0766Media Relations: Leni Vu, Sydney, Tel: +61 2 8256 0326, Email: Leni.Vu@fitchratings.com.Additional information is available at 
  www.fitchratings.com.
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