Losses Put Pressure On Farringdon RMBS Deal

The Farringdon Mortgages No. 2 residential mortgage-backed securitization is under increasing pressure as Fitch Ratings predicts it will continue to draw on its reserve fund, leaving its class B2a notes vulnerable to downgrade if persistent arrears and loss levels occur.

  • 12 Feb 2007

--Dan Flatt

The Farringdon Mortgages No. 2 residential mortgage-backed securitization is under increasing pressure as Fitch Ratings predicts it will continue to draw on its reserve fund, leaving its class B2a notes vulnerable to downgrade if persistent arrears and loss levels occur. The Farringdon RMBS series is backed by ...

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