The remittance reports for July for the June collection period released Friday were in line with analysts' expectations, Barclays Capital stated.
The remits showed monthly aggregate 60+ day delinquencies rising 46 basis points, 134 basis points, 135 basis points, and 158 basis points.
This is compared with 69 basis points, 149 basis points, 150 basis points, and 159 basis points increases seen over the previous month for Series 06-1, 06-2, 07-1, and 07-2, respectively.
The results were in line with the firm's forecast for 60+ day delinquencies to increase 40 basis points, 135 basis points, 137 basis points, and 140 basis points, according to Barclays.
Barclays also stated that the Index collateral performance was mixed across series by delinquency bucket. Loans that were 90+ days delinquent, in foreclosure or in REO all rose across indices, although at a slower pace. Loans that were 30 to 59 days delinquent dropped for 06-1 and 06-2, but rose for 07-1 and 07-2, analysts reported.
Delinquencies of 60-89 days dipped for 06-1, but rose for the other three series. Nonetheless, on a deal-by-deal basis, the growth rate of 60+ delinquencies dipped for just over half of the trusts tracked, Barclays noted. In aggregate, total prepayments dropped slightly for Series 06-1 and 06-2, and inched higher on Series 07-1 and 07-2.
The firm also said that default rates still rose for all but Series 06-1. This has resulted in voluntary prepayments declining in all index series, except for 07-2.