Third-Quarter 2011 U.S. Residential Mortgage Performance Index Data Supplement Dec 11
Standard & Poors, December 2011
Abstract
Standard & Poor's Ratings Services is providing supplemental default rate information for nonagency U.S. residential mortgage loans originated in 2005, 2006, and 2007. The additional information includes a further breakout of the cumulative, active, and closed default rates for these vintage years as of third-quarter 2011. This information supplements "U.S. Residential Mortgage Performance Index: Cumulative Default Rates Are Leveling Off, But Later-Vintages Loans Still Face A Long Road Ahead," published Nov. 15, 2011. Table 1 provides a breakout of the active, closed, and total cumulative defaults by loan categorization of prime, Alternative-A (Alt-A), and subprime (please see the Appendix for information about our loan categorization methodology). Table 2 looks at the relationship between defaults and original combined loan-to-value (CLTV) ratios...
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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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