Since high combined loan-to-value (CLTV) loans were first introduced in 1996, Standard & Poor's has continued to monitor the delinquency and charge-off activity of every high CLTV issue it has rated. In December 1998, Standard & Poor's announced the creation of the high CLTV performance matrix, designed to keep the market up-to-date on the performance of this highly controversial market sector, and to provide analysis of and commentary on current trends in the high CLTV market.

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