Friday, September 5, 2008
Forget sub-prime, now prime mortgages begin to hit the buffers
HBOS prime RMBS arrears rocket
Arrears on HBOS prime Residential Mortgage Backed Securities have rocketed as overall prime RMBS arrears rise by a third. According to Moody’s rating agency, delinquencies in prime RMBS rose to 0.9 per cent in the second quarter of 2008, up from 0.6 per cent in Q2 2007. It says this is the highest average delinquency rating since the current Master Trusts programmes were created. But it was Mound, Bank of Scotland's Master Trust, that is suffering worst of all the UK prime RMBS with arrears of 4.1 per cent. This was followed by Northern Rock’s Granite which has 1.3 per cent arrears and HBOS’ other RMBS Master Trust, Halifax's Permanent, which came in third with 1.2 per cent delinquencies as of Q2 2008.
Posted by jack c @ 03:24 PM (510 views)
One thought on “Forget sub-prime, now prime mortgages begin to hit the buffers”
Add a comment
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
paul says:
RUNAWAY! RUNAWAY!