New Issue: Mortgage House Capital Mortgage Trust No.1 - Mortgage House RMBS Series 2021-2 - S&P Global Ratings’ Credit Research

New Issue: Mortgage House Capital Mortgage Trust No.1 - Mortgage House RMBS Series 2021-2

New Issue: Mortgage House Capital Mortgage Trust No.1 - Mortgage House RMBS Series 2021-2 - S&P Global Ratings’ Credit Research
New Issue: Mortgage House Capital Mortgage Trust No.1 - Mortgage House RMBS Series 2021-2
Published Sep 10, 2021
20 pages (6955 words) — Published Sep 10, 2021
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

The ratings assigned to the residential mortgage-backed securities (RMBS) issued by Perpetual Trustee Co. Ltd. as trustee for Mortgage House Capital Mortgage Trust No.1 - Mortgage House RMBS Series 2021-2 reflect the following factors. The credit risk of the underlying collateral portfolio (discussed in more detail under "Credit Assessment") and the credit support provided to each class of notes are commensurate with the ratings assigned. Credit support is provided by subordination, lenders' mortgage insurance (LMI), and excess spread. Our assessment of credit risk takes into account Mortgage House of Australia Pty Ltd. (Mortgage House)'s underwriting standards and approval process, the servicing quality of Mortgage House (discussed in more detail under "Origination And Servicing"); and the support provided by the LMI

  
Brief Excerpt:

...The ratings assigned to the residential mortgage-backed securities (RMBS) issued by Perpetual Trustee Co. Ltd. as trustee for Mortgage House Capital Mortgage Trust No.1 - Mortgage House RMBS Series 2021-2 reflect the following factors. The credit risk of the underlying collateral portfolio (discussed in more detail under "Credit Assessment") and the credit support provided to each class of notes are commensurate with the ratings assigned. Credit support is provided by subordination, lenders' mortgage insurance (LMI), and excess spread. Our assessment of credit risk takes into account Mortgage House of Australia Pty Ltd. (Mortgage House)'s underwriting standards and approval process, the servicing quality of Mortgage House (discussed in more detail under "Origination And Servicing"); and the support provided by the LMI policies on 5.9% of the loans in the portfolio (see "Reliance On Lenders' Mortgage Insurance"). The rated notes can meet timely payment of interest and ultimate payment of...

  
Report Type:

Full Report

Issuer
Mortgage House Capital Mortgage Trust No. 1 in respect of the Mortgage House RMBS Series 2021-2
Sector
Structured Finance
Country
Australia
Region
Pacific
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "New Issue: Mortgage House Capital Mortgage Trust No.1 - Mortgage House RMBS Series 2021-2" Sep 10, 2021. Alacra Store. May 09, 2025. <http://www.alacrastore.com/s-and-p-credit-research/New-Issue-Mortgage-House-Capital-Mortgage-Trust-No-1-Mortgage-House-RMBS-Series-2021-2-2718693>
  
APA:
S&P Global Ratings’ Credit Research. (). New Issue: Mortgage House Capital Mortgage Trust No.1 - Mortgage House RMBS Series 2021-2 Sep 10, 2021. New York, NY: Alacra Store. Retrieved May 09, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/New-Issue-Mortgage-House-Capital-Mortgage-Trust-No-1-Mortgage-House-RMBS-Series-2021-2-2718693>
  
US$ 500.00
$  £  €
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