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S&P ups CE for subprime second liens

Standard & Poor's announced last week it will begin requiring more credit enhancement for closed-end subprime second-lien mortgages. The rating agency joins Moody's Investors Service in its decision to do so.

Per the new methodology, a 701 FICO deal with a 96.48 CLTV will need 8.1% credit enhancement, compared...

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