Dutch RMBS Index Report Q2 2012: Collateral Performance Deteriorates Following Continued Economic Uncertainty Aug 12
Standard & Poors, August 2012
Abstract
The performance of Dutch residential mortgage-backed securities (RMBS) has deteriorated in the second quarter of 2012, in Standard & Poor's Ratings Services' opinion. Dutch economic indicators are currently demonstrating conflicting trends. The number of housing transactions increased this quarter to the highest level in more than a year following a 0.30% rise in GDP in Q1. Conversely, unemployment rates have increased to 5.10% from 5.00% and house prices have continued their decline, albeit at a slower rate than in the previous quarter. The performance of the Dutch RMBS transactions that we rate reflects the trends of rising unemployment and falling house prices. In Q2 2012, severe delinquencies increased for the first time in a year to 0.50% from 0.42%, and...
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Research Type: Commentary
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