from
S&P Credit Research3628 word report
published Nov 12, 2008
Price
$500.00 available for immediate download
Report Overview
Search Inside
About
S&P Credit Research
| Abstract: | In the residential mortgage-backed securities (RMBS) arena, there is a substantial difference between a loss on the collateral underlying a transaction and a principal write-down on a rated certificate. When it comes to subprime RMBS, the difference might even surprise you. For U.S. subprime RMBS certificates issued from the second half of 2005 through the first half of 2007, Standard&Poor's Ratings Services now projects losses on the underlying mortgages to reach $180 billion. But we project that principal write-downs on the RMBS will be far less—a total of approximately $85 billion. So while we expect losses to RMBS investors to be significant, we expect them to be much less than the losses generated by the RMBS collateral. The
|
| Brief Excerpt: | RESEARCH Ratings Definitions U.S. Subprime RMBS Losses For Original '###' Bonds May Be Significantly Less Than Market Projections Publication date: 12-Nov-2008 Primary Credit Analysts: Andrew J Giudici, New York (1) 212-438-1659;...
|
| Report Type: | Commentary
|
| Sector: | Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Real Estate Companies, Residential MBS, Servicer Evaluations, Structured Finance
|
| Free Sample: |
Click Here to Download
|
| Format: | | HTML |  |
|
S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
