Residential MBS

Highlights

• 19 Apr 2013
  • Comment requested on revised approach to evaluating tail risk in US RMBS
    The proposed adjustments are to our monitoring approach for evaluating tail risk in pro-rata pay US residential mortgage-backed securities that do not have compensating mechanisms of support, such as credit enhancement floors or non-declining reserve funds. If implemented, it will result in ratings downgrades for about 1200 RMBS that are exposed to tail risk... Full Report
• 17 Apr 2013
  • ResiLandscape reports on a rebounding US house price outlook
    The monthly newsletter also looks at how overall RMBS loss severities will remain high over the next year because a rising proportion of property liquidations will comprise loans that have been delinquent three years or more. We also report on how, even in the current climate, our originator assessments reveal significant variations among originators in key aspects of their practices... Full Report
• 15 Apr 2013
  • Credit Insight: April edition highlights risk to Russian RMBS of FAS decision
    The April edition of Credit Insight discusses the credit negative implications for Russian RMBS of the regulator’s (the FAS) recent requirement that Russia’s largest refinancing organisation, the Agency for Housing Mortgage Lending, accept property valuation reports from non-accredited appraisers. We also discuss the credit negative implications for Spanish SME and RMBS of anticipated continued declines in Spanish house prices and the credit neutral implications for Spanish RMBS of a recent ruling by the Court of Justice of the European Union on the country’s mortgage foreclosure process... Full Report