MBS Credit Quality Remains in the Dumps, Borrower Credit Expected to Worsen in 2010
February 19, 2010
The credit quality of the loans supporting residential MBS continued to weaken in the fourth quarter, according to a new analysis by Standard & Poor’s, which warned that a slowdown in ratings downgrades doesn’t mean 2010 will be much better than last year. S&P lowered 9,898 ratings on 2,975 U.S. non-agency MBS transactions in the fourth quarter, down 62.5 percent...