Credit Suisse has made substantial changes to its non-agency RMBS program to address rep and warranty issues behind so much controversy and litigation in legacy deals, according to Standard & Poor’s.

What distinguishes the bank’s third offering of the year, the $329.9 million CSMC Trust 2012-CIM3 (CIM3), according to S&P, is that it sets limits, also known as “sunset provisions,” on the amount of time investors in the deal have to make claims that loans used as collateral do not meet stated underwriting criteria.

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