Originators ‘improve’ Greek RMBS performance
Lender intervention has improved Greek RMBS performance as a significant portion of defaulted loans have reverted back to less critical delinquency or even performing status, according to a report from Fitch.
Originator intervention should continue to boost performance in 2015 as borrower affordability slowly improves, said the ratings agency.Non-performing mortgage loans in Greece are stable below 11% and the constant default rate, which hit a peak of 2.8% in the second quarter of 2012, dropped to just 0.4% ...
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