February remittance report data are showing that serious delinquencies are increasing. " The overall performance of the indexes deteriorated as serious delinquencies and defaults increased," said analysts from Citigroup. Citigroup reported that for 06-1, 06-2, 07-1 and 07-2, the month-over-month shift in serious delinquencies was 236 basis points, 263 basis points, 201 basis points and 260 basis points, respectively, versus the 270bp, 248 basis points, 210 basis points and 264 basis points seen last month.For all the indexes, the number of loans in foreclosure rose as well, reported Citigroup. But, analysts said that for 06-1, 07-1 and 07-2, the pace of deterioration was less than that witnessed in January. According to Citigroup analysts, aside from the delinquency, the other important data point was the slowdown in prepayments (voluntary and involuntary).Prepayments fell slightly given that the defaults increasing sharply. Citigroup said that for ABX 06-1, 06-2, 07-1 and 07-2, the CPR dip was 2.74%, 0.96%, 0.66% and 0.54%, respectively. The defaults across the indexes increased by 2.19%, 1.01%, 0.52% and 0.45%, respectively.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
April 19 -
With a high proportion of fixed-rate, interest-only underlying loans, the notes have almost no amortization, and three CRE loans have standalone, investment-grade opinions.
April 19 -
The fixed-rate loans are divided into three sub-pools that relied on rating methods from the RMBS, CMBS and ABS sectors to assess their risks.
April 18 -
The House Financial Services Committee also sent to the full House two bipartisan bills, including one that would prevent large banks from opting out of having to recognize Accumulated Other Comprehensive Income in regulatory capital.
April 18 -
The portfolio does not have any meaningful originations that have completed a full repayment cycle, making the company's performance data thin.
April 18 -
Formerly of Wells Fargo, she will coordinate several key units to create a structure for a sustained capital markets program that capitalizes on recent innovation and growth in home equity finance.
April 17