High volume of borrowers in UK RMBS miss final payments

By Sam Kerr
19 Dec 2017

A third of interest-only borrowers in non-conforming UK RMBS failed to pay down their principle at maturity, according to S&P Global Ratings.

The rating agency looked at interest only mortgages in 84 non-conforming RMBS pools. 

“Across these 84 transactions, we found 36% of loans due to mature between January 2016 and June 2017 failed to make the "bullet" payment at maturity.”

S&P said that it observed “significant variation” in the number ...

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