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U.K. Nonconforming RMBS Index Report Q4 2007— Performance Remains Stable, While Borrower Credit Environment Worsens Feb 08 Product Image

U.K. Nonconforming RMBS Index Report Q4 2007— Performance Remains Stable, While Borrower Credit Environment Worsens Feb 08

  • Published: February 2008
  • Region: United Kingdom, Great Britain
  • Standard & Poors

FEATURED COMPANIES

  • ALBA 2005 - 1 PLC
  • Clavis Securities PLC
  • Eurosail 2006-4NP PLC
  • Eurosail-UK 2007-6NC PLC
  • RMAC 2003-NS1 PLC
  • RMAC 2004-NS3 PLC
  • MORE

Abstract
The Bank of England base rate fell to 5.25% on Feb. 7, 2008, which should ease pressure on those borrowers coming off their fixed or discount products. According to Nationwide, house prices declined in the three months up to January 2008. Any sustained fall in house prices could have consequences for ratings on U.K. residential mortgage-backed securities (RMBS). The latest available data for all U.K. nonconforming RMBS portfolios show total delinquencies at 20.13% up from 18.89% last quarter, with 90+ day delinquencies at 9.34% up from 8.76%. Weighted-average prepayments slowed in Q4 2007, standing at 27.71%, just a slight increase from 26.93% in the third quarter of 2007. We expect prepayments to continue to slow into 2008 as the availability...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and READ MORE >

- RMAC 2003-NS1 PLC
- Southern Pacific Securities G PLC
- RMAC 2003-NS2 PLC
- RMAC 2003-NS3 PLC
- Residential Mortgage Securities 16 PLC
- Southern Pacific Securities H PLC
- RMAC 2003-NS4 PLC
- Preferred Residential Securities 7 PLC
- Residential Mortgage Securities 17 PLC
- RMAC 2004-NS1 PLC
- Southern Pacific Securities 04-1 PLC
- Mortgages No. 6 PLC
- Residential Mortgage Securities 18 PLC
- Southern Pacific Securities 04-2 PLC
- Preferred Residential Securities 8 PLC
- RMAC 2004-NS3 PLC
- Leek Finance Number Fourteen PLC
- Residential Mortgage Securities 19 PLC
- RMAC 2004-NSP4 PLC
- Paragon Secured Finance (No. 1) PLC
- Bluestone Securities PLC
- RMAC 2005-NS1 PLC
- Southern Pacific Securities 05-1 PLC
- Farringdon Mortgages No. 1 PLC
- Residential Mortgage Securities 20 PLC
- Marble Arch Residential Securitisation No. 3 Ltd.
- Leek Finance Number Fifteen PLC
- Preferred Residential Securities 05-1 PLC
- RMAC 2005-NSP2 PLC
- Southern Pacific Financing 05-B PLC
- Money Partners Securities 1 PLC
- Southern Pacific Securities 05-2 PLC
- Farringdon Mortgages No. 2 PLC
- RMAC 2005-NS3 PLC
- Residential Mortgage Securities 21 PLC
- Preferred Residential Securities 05-2 PLC
- ALBA 2005 - 1 PLC
- Southern Pacific Securities 05-3 PLC
- RMAC 2005-NS4 PLC
- Money Partners Securities 2 PLC
- Southern Pacific Securities 06-1 PLC
- Southern Pacific Financing 06-A PLC
- Preferred Residential Securities 06-1 PLC
- Paragon Mortgages (No. 11) PLC
- RMAC Securities No. 1 PLC
- Newgate Funding PLC
- Leek Finance Number Seventeen PLC
- Money Partners Securities 3 PLC
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- Clavis Securities PLC
- ALBA 2006 - 1 PLC
- Landmark Mortgage Securities No.1 PLC
- Residential Mortgage Securities 22 PLC
- Paragon Mortgages (No. 12) PLC
- Eurosail 2006-2BL PLC
- Paragon Mortgages (No. 13) PLC
- Leek Finance Number Eighteen PLC
- Mansard Mortgages 2006-1 PLC
- ALBA 2006 - 2 PLC
- Eurosail 2006-3NC PLC
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- Ludgate Funding PLC
- Eurosail 2006-4NP PLC
- Great Hall Mortgages No. 1 PLC
- Eurosail-UK 2007-1NC PLC
- Landmark Mortgage Securities No. 2 PLC
- Eurohome UK Mortgages 2007-1 PLC
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- ResLoC U.K. 2007-1 PLC
- EuroMASTR PLC
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- Eurohome UK Mortgages 2007-2 PLC
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- Eurosail-UK 2007-6NC PLC
- Mansard Mortgages 2007-2 PLC

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