2007 Vintage of Subprime MBS Indistinguishable From 2006 in Terms of Underwriting and Performing Worse
October 12, 2007
The default rate on subprime MBS issued this year continues to worsen as there appears to be little difference in the underwriting quality of loans originated in 2007. The performance of the subprime MBS issued in this year “deteriorated sharply” in...