Repossessions in UK subprime residential mortgage-backed securities (RMBS) declined to 1.48% of the out-standing balance in February 2010, a level last recorded in August 2005, according to Moody’s Investors Service. Arrears in the month also fell to 19.2% from a peak of 21% in June 2009. Most series recorded falling arrears but those in transactions issued by Preferred and Money Partners rose. The redemption rate continued to fall. It was 9.4% this February, less than half the figure recorded in the same month in 2009 and a third of that seen in February 2008.
Repossessions in UK subprime RMBS lowest since 2005
Most Popular Articles
Latest Articles
Ginnie Mae denies majority of complaint in Texas Capital Bank lawsuit
Ginnie Mae admits only to core facts of the case, denying all allegations, “inferences, arguments, and legal conclusions” in the complaint.