Primary Changes

In Part I, Chapter 2: Mortgage Loan, Section 204.02: Issuers and Ratings, ratings criteria were updated for financial institutions issuing or confirming a Letter of Credit.  A financial institution is eligible to issue or confirm a Letter of Credit if it satisfies the following ratings criteria:

• a Standard and Poor’s long-term issuer rating of "A" or better; or
• a Moody’s long-term issuer rating of "A2" or better.

Questions

Please contact Lender Risk Management at [email protected] with any questions.