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ISCOVER
Staff Reporter
Pepper Homeloans' latest subprime Residential Mortgage-Backed Securities (RMBS) issue has been given a AAA rating by Standard & Poor’s Ratings Services.
According to Standard & Poor’s report on Pepper Homeloans, the non-bank lender met the ratings agency’s criteria to receive the highest rating.
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“Our expectation that the various mechanisms to support liquidity within the transaction are sufficient under our stress assumptions to ensure timely payment of interest,” the report read.
In addition, Standard & Poor’s expects interest repayments and the ultimate principal payment will be made in a timely manner.
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