Catalonia social rent decree to affect RMBS deals

Catalonia_AdobeStock_575x375_06April20
By Tom Brown
06 Apr 2020

A law to promote access to housing enacted in Spain’s Catalonia region risks delaying the recovery for some RMBS and non-performing loan (NPL) deals set to be affected by economic fallout from the coronavirus pandemic, DBRS said in a report on Monday.

The Catalan parliament approved the amendment (decree law 17/2019) on February 5, intending to promote access to housing for economically vulnerable borrowers.

With Spain among the countries hit hardest by the coronavirus crisis, recovery forecasts will have to be revised even further, as the law has the ...

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