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U.K. Nonconforming RMBS Index Report Q2 2011?Low Interest Rates And Economic Stability Support Performance For Now Sep 11
Standard & Poors, Sep 2011
Abstract
The performance of U.K. nonconforming residential mortgage-backed securities (RMBS) that Standard & Poor's Ratings Services rates remained stable over the second quarter of 2011. Our delinquency index and repossessions remained flat, and our prepayment index showed a small uptick. We believe the stabilizing of the U.K. economy, with help from the prevailing low interest rates, is behind the latest figures. Up until now, the prepayment rate index had fallen for 15 consecutive quarters. The recent increase in prepayments may be due to a slight rebound in the mortgage market, which has given borrowers more options for refinancing. However, we don't expect prepayments to increase much more in the near term, as the market remains relatively subdued and borrowers with poor...
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.
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