The U.K. is one of the few countries in Europe where securitization remains a significant funding source for mortgage originators, but cheap central bank financing schemes and renewed economic deterioration can crowd out issuance and push up arrears, according to a Standard & Poor's report.

Investor-placed U.K. RMBS issuance reached about €22 billion ($28 billion) equivalent in the first three quarters of 2012, representing more than 40% of publicly-placed European securitization issuance, according to the report published today.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.