Fitch: 4Q'14 New Deals a Post-Crisis High for U.S. Prime Jumbo RMBS

NEW YORK--()--Link to Fitch Ratings' Report: U.S. Prime Jumbo RMBS Trends
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=853409

Though still glacial by historical standards, new issue activity during fourth-quarter-2014 set a post-crisis milestone, according to Fitch Ratings in its latest prime jumbo trends report.

Fitch reported 11 RMBS deals as coming to market in 4Q'14. This represents the most active issuance quarter for prime jumbo RMBS since the financial crisis. 'Another development worth noting is that different names are tapping the RMBS market with increasing frequency, with six issuers coming to market with new deals,' said Managing Director Grant Bailey. 'More new names are likely to test the private label RMBS market this year.'

As to how they are performing, there were no surprises as post-crisis RMBS performance remains exceptional. 'Mortgage rates are continuing to fall so we saw prepayment speeds pick up last quarter to reflect more homeowners refinancing their monthly payments,' said Bailey. Delinquencies also remain extremely low, with only five borrowers falling behind more than three months on their mortgage out of 20,000 outstanding loans.

'U.S. Prime Jumbo RMBS Trends' is available at www.fitchratings.com or by clicking on the above link.

Additional information is available at 'www.fitchratings.com'.

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Contacts

Fitch Ratings
Grant Bailey
Managing Director
+1-212-908-0544
Fitch Ratings, 33 Whitehall Street, New York, NY 10004
or
Ryan O'Loughlin
Analyst
+1-212-908-0387
or
Media Relations:
Sandro Scenga, New York, +1 212-908-0278
Email: sandro.scenga@fitchratings.com

Contacts

Fitch Ratings
Grant Bailey
Managing Director
+1-212-908-0544
Fitch Ratings, 33 Whitehall Street, New York, NY 10004
or
Ryan O'Loughlin
Analyst
+1-212-908-0387
or
Media Relations:
Sandro Scenga, New York, +1 212-908-0278
Email: sandro.scenga@fitchratings.com