The bust in oil prices has jeopardized local economies in heavy oil-sector regions of the country. Might the volatility do the same to mortgage-backed securities, should massive layoffs in the industry give rise to a surge of homeowner defaults by energy industry workers?

Standard & Poor’s thinks not – even under extreme circumstances of the entire oil-sector workforce defaulting on their jumbo home loans securities in the three states with the greatest exposure to the pools of 59 S&P-rated RMBS transactions from 2012-2015.

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