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U.K. Nonconforming RMBS Index Report Q3 2007 Nov 07 Product Image

U.K. Nonconforming RMBS Index Report Q3 2007 Nov 07

  • ID: 1825726
  • November 2007
  • Region: United Kingdom, Great Britain
  • Standard & Poors

FEATURED COMPANIES

  • ALBA 2005 - 1 PLC
  • Clavis Securities PLC
  • Eurosail 2006-4NP PLC
  • Ludgate Funding PLC
  • RMAC 2003-NS2 PLC
  • RMAC 2004-NSP 2 PLC
  • MORE

Abstract
Issuance in the U.K. nonconforming sector has slowed down notably during the third quarter: £2.59 billion of notes were issued, bringing the total outstanding balance down to £36.95 billion from £37.49 billion in Q2. This quarter, eight new transactions were added to the Standard & Poor's Ratings Services U.K. nonconforming index, taking the total number of transactions in the index to 123. We expect to see a payment shock for fixed-rate 2005 and 2006 vintage borrowers. The total delinquency index is 20.26%, with 90+-day delinquencies at 9.65%. Weighted-average prepayments stand at 30.28%, up from 26.78% in the second quarter of 2007. Losses continue to rise, but remain below 1.4%. Interest rates remain at 5.75%. In terms of rating actions, the...

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 provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

Note: Product cover images may vary from those shown

- 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
- Marble Arch Residential Securitisation No.2 Ltd.
- Paragon Mortgages (No. 7) PLC
- RMAC 2004-NSP 2 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
- Paragon Mortgages (No. 8) 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
- Paragon Mortgages (No. 9) 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
- Paragon Mortgages (No. 10) 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
- Eurosail 2006-1 PLC
- 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
- Marble Arch Residential Securitisation No. 4 PLC
- Mansard Mortgages 2006-1 PLC
- ALBA 2006 - 2 PLC
- Eurosail 2006-3NC PLC
- Money Partners Securities 4 PLC
- 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
- Kensington Mortgage Securities PLC
- Paragon Mortgages (No. 14) PLC
- Eurosail-UK 2007-2NP PLC
- Mansard Mortgages 2007-1 PLC
- ALBA 2007 - 1 PLC
- ResLoC U.K. 2007-1 PLC
- EuroMASTR PLC
- Eurosail-UK 2007-3BL PLC
- Uropa Securities PLC
- Paragon Mortgages (No. 15) PLC
- Eurohome UK Mortgages 2007-2 PLC
- Eurosail-UK 2007-4BL PLC

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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