Moody's Investors Service's index of cumulative defaults for Spanish RMBS rose to 1.98% of the original balance in June compared to 1.89% in March.
Comment on how this compares to or might affect the U.S. market was not immediately available at press time.
The rating agency also said the 90-plus-day delinquency trend increased slightly to 0.99% of the current balance in June, up from 0.96% in March but below the April 2009 peak of 2.39%.
Moody's said its outlook for Spanish RMBS collateral remains negative due to economic concerns and significant pressure on the country's government to tighten its budgetary position.
In RMBS news from other parts of the globe, Standard & Poor's Mexican RMBS index suggested improvement could be relatively slow for the remainder of the year due to global economic concerns.
The World Bank president Sunday warned that such concerns have been intensifying.
S&P said it believes the economy south of the border will remain stable, which will aid mortgage borrowers there, but the broader financial woes throughout the world could dampen RMBS recovery.
The rating agency said the Mexican economy in the first half of the year was mostly positive and RMBS during that time did show hints of improvement even though their overall performance continued to decline.
S&P said it expects during the second half the kinds of delinquency and nonperforming loan trends seen in the first half will continue without notable changes.
The rating agency had not responded to a request for comment on how this compares to or might affect the U.S. market at press time.