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Home | Tag Archives: Fitch Ratings

Tag Archives: Fitch Ratings

RMBS Liquidations Increase for the First Time in Almost Two Years

foreclosure-for-sale-two

Annualized liquidations of United States RMBS loans increased last quarter for the first time in seven quarters, according to a report issued Monday by Fitch Ratings. The conditional default rate increased in Q2 2014 to 4.92 percent after nearly two years of declines from 9.76 percent in Q2 2012. The previous decline was spurred on by shrinking inventories of distressed properties and a decrease in the use of short sales.

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Fitch: Slow RMBS Prepayments Lengthens Default Term Risk

A new report from Fitch Ratings found that U.S. prime jumbo residential mortgage-backed securities (RMBS) issued since the start of 2010 are unlikely to see a "meaningful increase in prepayments, even if interest rates stay low." The company believes that the lack of prepayments will result in an increased average life of the mortgages in these trusts, further increasing the period of default risk.

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Fitch: RMBS Delinquency Not Indicative of Trend

The highest delinquency to date of any post-crisis residential mortgage-backed securities (RMBS) doesn't indicate any trend of future delinquencies, according to an analysis by Fitch Ratings. The delinquency, according to the company, came about due to a transfer of servicing, and doesn't point to any widespread post-crisis late payment increases.

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Fitch: Green Tree Servicing Moved to ‘Rating Watch Negative’

One of the country's biggest credit ratings agencies has put Green Tree Servicing on negative watch following a report that the company failed several compliance metrics established by the 2012 National Mortgage Settlement. Fitch Ratings announced it is changing Green Tree's servicer grades to "Rating Watch Negative," citing "ongoing concerns with Green Tree's rapid growth and portfolio integration."

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Spring Recovery: Dead on Arrival?

clipped

Market analysts are dialing back on their expectations for the housing sector this year following reports of continued sluggishness in what should have been the start of a busier season. Sales of both new and existing homes in March fell short of expectations, dashing optimistic projections of a rebound following the end of an unusually harsh winter.

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RMBS Prepays Approaching Post-Crisis Low

Short Sales

According to Fitch Ratings' latest quarterly index, prepayment rates among U.S. residential mortgage-backed securities (RMBS) have declined to the lowest levels of the post-crisis era. Fitch Ratings' director Sean Nelson attributed the decline in prepayment rates to higher interest rates and fewer distressed liquidations.

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Fitch: Housing Recovery Will Reflect Economic Performance

Fitch Ratings is the latest market commentator to blame the housing sector’s recent slowness on weather challenges. In an analysis gauging the recovery’s progress, the ratings agency listed harsh winter weather across the country as one of the biggest factors moderating the housing recovery, though higher interest rates and home prices have also provided some drag.

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Fitch: RMBS Servicers to See a “New Normal”

In a press release issued by Fitch Ratings, the company comments that the past year has seen a "sea change" in who is servicing severely delinquent U.S. mortgage loans—and how they are being serviced. Fitch found that 2013 saw many portfolios of non-agency residential mortgage-backed securities (RMBS) mortgage servicing rights (MSR) move from banks to non-bank servicers.

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