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Moody's: Jumbo and Home-Equity Performance Weakens.(Brief article)
NEW YORK -- While everyone keeps wondering how bad the situation in the subprime market really is, data indicate other sectors, namely jumbo and home-equity securities, also showed signs of weakness in May, albeit slightly.
According to Moody's U.S. Jumbo Mortgage Credit Indexes for the June reporting period shows the May 60-plus-day delinquency rate was 0.422%, compared to 0.397% in April and 0.268% in May 2006.
However, Moody's notes the performance of securitized prime jumbo mortgage loans was "slightly" weaker since the percentage of borrowers 30-59 days delinquent "has remained relatively low" at 0.550% in May. Also prepayments remain low with a one-month CPR ranging between 14%-18% over the last 12 months.
Similarly, the ...
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Source: HighBeam Research, Moody's: Jumbo and Home-Equity Performance Weakens.(Brief article)