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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.
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According to Standard & Poor’s report on Pepper Homeloans, the non-bank lender met the ratings agency’s criteria to receive the highest rating.
“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.
