What is “data” provided to the NRSROs for purposes of the delivery requirement specified in the FAQ above?
Data includes any information prepared by or on behalf of the sponsor or issuer specifically for presentation to the applicable NRSROs, commonly known as the “rating agency book”, plus any information provided by or on behalf of the sponsor or issuer to the applicable NRSROs relating to (1) the underlying collateral, including information relating to its historical performance, (2) the structure of the ABS, including any terms sheets, structural diagrams or draft offering documents provided to the NRSROs, and (3) the issuer, sponsor, servicer or originators. Data does not include transaction documentation other than term sheets and offering documents.
