Abstract: Total delinquencies have continued to increase among U.S. Alternative-A residential mortgage-backed securities (RMBS) transactions originally rated in 2005, 2006, and 2007. As of the April 2008 distribution date, total delinquencies were 13.10%, 17.34%, and 10.88% of the aggregate pool balances for the 2005, 2006, and 2007 vintages, respectively. These figures have increased approximately 7.03% for the 2005 vintage, 6.32% for 2006, and 6.77% for 2007 since the March 2008 distribution date. Serious delinquencies (90-plus days, foreclosures, and real estate owned {REO}) have also risen since the last distribution date. As of the most recent reporting period, serious delinquencies for the 2005, 2006, and 2007 vintages were approximately 8.47%, 11.48%, and 6.64% of the current aggregate pool balances, respectively. When compared

Brief Excerpt: RESEARCH Ratings Definitions U.S. Alternative-A RMBS Performance Update: April 2008 Distribution Date Publication date: 20-May-2008 Primary Credit Analyst: Scott Davey, New York (1) 212-438-2441; scott_davey@standardandpoors.com Secondary...

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
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