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ARCHIVE | Criteria | Structured Finance | RMBS: Securitizing Japanese Residential Mortgages Presents Unique Risks Feb 99
Standard & Poors, Feb 1999
Abstract
Editor's Note: This criteria is no longer current. It has been superseded by the article titled, 'Rating Methodology For Residential Mortgage-Backed Securities In Japan,' published Aug. 19, 2007. Interest in securitizing Japanese residential mortgages has grown dramatically over the past year. Standard & Poor's is currently reviewing a number of transactions, and it is likely that these will come to the market over the next three to six months. This should be a positive sign for investors and potential issuers who have been studying ways to securitize Japanese residential mortgages. The enthusiasm generated by this progress is welcome, but it is crucial that investors understand the risks inherent in Japanese mortgage-backed securities (MBS). There are several risk considerations for Japanese...
Companies mentioned in this report are: Japan (Unsolicited Ratings),Japan Housing Finance Agency
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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