Bear, Stearns & Co. is urging all issuers in all sectors of the mortgage and asset-backed markets to provide full loan-level disclosure to establish a framework for measuring default behavior of different mortgage products in a variety of scenarios.

Full loan-level disclosure on defaults and loss will help improve transparency in the subordinate mortgage-backed securities sector. Bear Stearns has recently completed a study examining how three major non-agency participants reduced loan-level loss by committing to releasing disclosure data.

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