OREANDA-NEWS. Fitch Ratings has updated its APAC residential mortgage rating criteria, detailing the agency's approach to analysing both new and existing residential mortgage-backed securities (RMBS).

This criteria applies to all APAC RMBS transactions and covered bond programmes where residential mortgages are used as the underlying collateral. Key changes to the criteria include amendments to the surveillance section and the incorporation of the Australian and New Zealand addenda within the reports rather than as separate reports.

The criteria replaces the following reports, APAC Residential Mortgage Criteria, APAC Residential Mortgage Criteria Addendum - Australia and APAC Residential Mortgage Criteria Addendum - New Zealand, all dated 23 June 2014.

Fitch expects this updated criteria to have no impact on existing ratings.