Fitch Sees 60% of Current RMBS Borrowers Underwater

Fitch Sees 60% of Current RMBS Borrowers Underwater

Many of our investment areas like RMBS and CMBS and residential and commercial real. record low interest rates and the anticipation of a relaxation in credit standards for underwater borrowers.

Posted October 14th, 2009 by Jim Sinclair & filed under Jim’s Mailbox.. Jim, Fitch predicts housing prices to continue falling next year. "The majority – 60% – of remaining performing borrowers within ’06- and ’07-vintage residential mortgage-backed securities (rmbs) bear negative home equity, meaning they are underwater on their mortgages and owe more than their houses are worth.

Foreclosures drop to lowest level since 2007 Foreclosure filings in January plunged to their lowest level since April 2007. Notices of default, scheduled auctions, bank repossessions and other filings fell to 150,864 last month, a 7% decline.

For additional information regarding MFA’s use of forward-looking statements, please see the relevant disclosure in the. This portrays the percent of current loans that are underwater. While not.

See the definitions of "large. (Check One): Western Asset Mortgage Capital Corporation is a Delaware corporation focused on investing in, financing and managing primarily Agency RMBS, which are.

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 · Fitch Sees 60% of Current RMBS Borrowers Underwater . By Diana Galobay Oct. 13 – The majority â” 60% â” of remaining performing borrowers within â06- and â07-vintage residential mortgage-backed securities (RMBS) bear negative home equity, meaning they are underwater on their mortgages and owe more than their houses are worth.

About half of that group, 5.3 million borrowers, are 20 percent or more underwater. For 2.2 million, the property is worth less than half the mortgage balance..

Majority of current RMBS borrowers underwater, Fitch says. the rating agency estimated approximately 60 per cent of the remaining performing borrowers from the 2006-2007 vintages are underwater.

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The average current loan size of EUR360,617 and average indexed market value of around EUR530,694 is higher than observed in a typical Dutch RMBS. analysis, Fitch received a data template of.

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