BOCA RATON, FLA. - At last week's Information Management Network ABS East conference held here, issuers and at least one rating agency discussed the ways they have changed their policies or deal structures in response to Hurricane Katrina.

Jay Bray, chief financial officer and executive vice president with Centex Corp., said his company has initiated a 90-day moratorium on reporting to credit bureaus and on foreclosures. Bray, like most at the conference, said it will be several months before the full impact of the damage is known, but, in the meantime, Centex has hired a third-party consultant to track property damage and insurance claims. According to Bray, roughly 2% of Centex's portfolio is exposed to the affected areas.

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