Tag Archives: Australia

Australian RMBS Heading For Busiest Year Since 2008

The Australian residential mortgage-backed securities (RMBS) market may be heading for its busiest year since 2008 issuance amid renewed investor interest in the asset class, according to a new report issued by Standard & Poor’s Ratings Services. The report, “Australian RMBS Issuance Has Strengthened, But Is The Revival Sustainable?,” notes that more than A$8 billion […]

An Overview Of Australia’s Housing Market And Residential Mortgage-Backed Securities

Investors in Australian residential mortgage-backed securities (RMBS) continue to benefit from the strong credit performance of the underlying residential mortgage portfolios. However, there is only muted growth in new RMBS issuance activity where real-money investors, including limited foreign investors, are gradually re-emerging. Until quite recently, the Australian government’s partake in Australian RMBS has been heavily […]

Australian Household Debt To Income Reaches Sensitive Level

Australia’s mortgage performance is likely to remain stable in 2012, despite signs that household debt to income has reached sensitive levels amid declining property prices. That’s one of the key take-away messages from a market briefing hosted by Standard & Poor’s Ratings Services in Melbourne on March 27, 2012. The briefing also heard from Standard […]

Sound Economy Is Aiding Outlook For The Australian Housing Market

Standard & Poor’s this month published its outlook assumptions for the Australian residential mortgage market to support its view of loss expectations for archetypical mortgage pools, as defined in its updated RMBS criteria article. Standard & Poor’s credit analysis of mortgage pools, which incorporates this outlook and expected loss scenario, reflects: The loss expectation for […]

Australian REITs go back to basics as debt appetite reduces

Like many REITs elsewhere, Australian commercial property companies rated by Standard & Poor’s are emerging from the global financial and economic crises with stronger balance sheets and improved risk profiles. Over the past few years, the sector has dramatically reduced its debt appetite, undertaken sizable equity raisings, adopted more conservative distribution policies, and reverted to […]

Australian RMBS Arrears Remain Low Amid Sound Housing Market And Economic Outlook

While the losses on various RMBS vintages continue to rise, they still remain low in absolute levels, as shown in the latest issue of the Australian RMBS Performance Watch. Loans that are in arrears by more-than-30 days were 1.80% in May 2011, as measured by the Standard & Poor’s Australian prime mortgage performance index (SPIN). […]

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