Tag Archives: RMBS

Richmond, Calif.’s Eminent Domain Proposal Could Have A Far-Reaching Impact On The U.S. RMBS Market

When Standard & Poor’s Ratings Services commented on the credit impact of eminent domain proposals to seize mortgages pledged to residential mortgage-backed securities (RMBS) last year, we considered the likelihood of implementation remote. However, recent developments suggest that the possibility of such eminent domain proceedings has increased, although only in a few jurisdictions. Because of […]

In Residential Mortgage Backed Securities, When Is A Loss Not A Loss?

Ocwen Loan Servicing LLC (Ocwen), the largest servicer of subprime loans, recently revealed that in May 2013 it realized more than $1.4 billion of previously undisclosed losses on certain residential mortgage-backed securities (RMBS) primarily backed by subprime mortgage loans. These losses were from loans for which Ocwen had acquired the servicing from Homeward Residential Inc. […]

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 […]

Principal Forgiveness, Still The Best Way To Limit U.S. Mortgage Redefaults, Is Becoming More Prevalent

In June of last year, Standard & Poor’s Ratings Services contended that principal forgiveness was more likely to keep U.S. mortgage borrowers current than more commonly used modification tools (see “The Best Way to Limit U.S. Mortgage Redefaults May Be Principal Forgiveness,” June 15, 2012). Data gathered since then not only support this view but […]

Structured Finance Hot Topics Breakfast: U.S. RMBS Recovery Analytics

Please join senior analysts from Standard & Poor’s Ratings Services for an interactive discussion on hot topics in the U.S. RMBS sector, including the re-launch of U.S. RMBS recovery analytics. Register today. Topics will include: •2013 current outlook for the housing sector •Overview and demonstration of RMBS recovery analytics as a tool to complement traditional […]

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 […]

Australia’s Quarterly RMBS Performance Watch Report Now Offers More Features

In Australia, Standard & Poor’s Ratings Services is now providing more features in its quarterly RMBS Performance Watch report. The latest edition includes a state-by-state breakdown of low-documentation (low-doc) loans underlying Australian RMBS, the arrears performance over time of investment loans compared with owner-occupied loans, the arrears performance of loans in metropolitan versus nonmetropolitan areas, […]

VIDEO: Recent Market Trends Could Impact U.S. RMBS Performance

Standard & Poor’s recently published a commentary on several central housing market trends that could impact the credit quality of U.S. residential mortgage-backed securities (RMBS). In this CreditMatters TV segment, my colleague, Managing Director Vandana Sharma explains that three key variables, collateral performance, the effectiveness of structural protections, and transaction party behavior and incentives, will […]

U.S. RMBS Credit Quality Rests On Several Key Housing Market Trends

Broad questions about the future of U.S. housing finance and the direction of the residential mortgage market continue to cloud the outlook for U.S. residential mortgage-backed securities (RMBS), in the view of Standard & Poor’s Ratings Services. While home prices and delinquencies generally seem to be stabilizing, the future performance of outstanding residential mortgage bonds […]

Live Webcast and Q&A: Is the U.S. Housing Market Bottoming Out?

Please join our analysts for a live video Webcast and Q&A on Tuesday, March 13, 2012, at 12:00 p.m. ET as they discuss the economic factors influencing the U.S. housing market, and what may lie ahead for: U.S. not-for-profit housing, Corporate homebuilders and REITs, and Residential mortgage-backed securities. Please click here to register for the […]

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