Fitch Sees 60% of Current RMBS Borrowers Underwater

Fitch Sees 60% of Current RMBS Borrowers Underwater Housing Wire Blithe blankfein felix salmon goldman sachs 2009 bonuses to double 2008’s; $23 billion could send 460,000 to Harvard, buy insurance for 1.7 million families Raw Story and Capitalism: An Apathy Story Cindy Sheehan (hat tip reader John D)

Foreclosure starts reach lowest level since 2005 Last quarter’s number was the lowest since 15,337 NODs were recorded in the fourth quarter of 2005. The median price paid for a California home last quarter was $297,000, up 22.7% from a year ago. John Walsh, DataQuick’s president, credits this as a driving force in bringing down foreclosure starts.

(The following statement was released by the rating agency) Fitch Ratings-Sydney-May 10: Fitch Ratings has upgraded three and affirmed two classes of notes from Avanti RMBS 2018-1 Trust. The transaction is a securitisation of first-ranking, predominantly prime, New Zealand residential full- and low-documentation mortgage loans originated by.

A Fitch Ratings’ update of U.S. RMBS Servicers’ Loss Mitigation and Modification Efforts report finds loan modifications are "on a steady decline" as only 36,500 modifications were completed in December 2010, raising concerns about how many distressed U.S. mortgage borrowers will get a final response and by when.

Since the 2008 nancial crash, the world has witnessed an unprecedented outbreak of social protest in every major continent. beginning with the birth of the Occupy movement in the US and Western.

60% 80% 100% 120% 0 2 4 6 8 10 12 14 16 18 20 22 a Fitch current -to trough house price decline expectation as of h112 (%) estimated 2013 mortgage lending as percentage of peak year Mortgage Lending Outlook Versus House Price Expectation Source: Fitch; *reflects downside risk as prices may stabilise in Ireland Related Research See Appendix Analysts

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.

On the credit side, delinquencies among commercial borrowers remain low – for now. Fitch Ratings’ U.S. CMBS delinquency index fell for the fifth straight month in June to 0.29%, or two basis points.

Redefault Rates ‘Tragic’, Says Amherst Only in The Republic of Amherst: April 2013 –  · The number one reason Amherst has such a high property tax rate (well, besides the gold plated schools) is simple math: half of all the property in town is owned by tax exempts and the other half is disproportionally make up of homeowners and rental units which shoulder 90% of the tax burden. Commercial property makes up a desultory 10%.Moody’s finds commercial real estate eluding recovery In locations with both types of foreclosures, the added complexity reduced recovery rates to 49.8%. Moody’s quarterly US commercial mortgage-backed securities (CMBS) and commercial real estate collateralized debt obligations (CRE CDO) surveillance review reports on recent rating actions, relevant surveillance statistics and topics of interest.

The lender’s average LTV in new loans has remained virtually flat at around 60% in the past three quarters, while the LTV of its existing stock is 53%.

 · Guarantee-backed loans comprise 57%, 60% and 46% of Elide 2008, 2011 and 2012 assets, respectively.

Nonetheless, Fitch’s 2011 re-default projections are "slightly lower" at 60%-70% for subprime and Alt-A loans and 50%-60% for prime loans in part because even though HAMP failed to meet "volume projections," it has succeeded in standardizing the reduction of payments thus allowing for "more attention on the use of modifications."

Short sales and foreclosures equally degrade FICO scores A short sale is better over time as long as you don’t have a deficiency judgment for the loss that the bank took with the sale. "FICO said homeowners with short-sales and foreclosures on their records ended up with similar credit scores, assuming their scores were similar as distressed homeowners (see illustration below)."