Upgrades loom as UK non-conforming story improves

By Tom Porter
15 Jan 2015

The performance of UK non-conforming residential mortgage-backed securities market improved in the three months ending November 2014, according to Moody's, which has a positive view on the country’s housing market and is eyeing upgrades to 17 trades.

Delinquencies over 90 days in the product dropped to 14.4% in November from 15.6% the previous year, while losses halved to 0.1% in the year to November from 0.2% in the year to November 2013, said Moody’s.

The ratings agency placed 81 tranches of UK non-conforming RMBS ...

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