Relevant:
- Consumers Skip More High-Rate Auto Payments Than During Crisis
- RMBS Performance Continues to Deteriorate Across Europe
- Delinquency Cure Rates Worsening for U.S. Prime RMBS
- Fitch: U.S. RMBS Loss Severities to Rise 5-10% on Rising Costs & Weakening Home Values
- Hotel Loan Delinquencies to Double by 2012, Fitch Ratings Says
2008-05-07 — ml-implode.com
``A Fitch must-read just came out... They cite that in the Alt-A arena, as with subprime, that loans with ’simultaneous second liens (SSLs, aka piggybacks) are defaulting at very high rates relative to other loans and to history’. They say the ‘performance divide between loans with SSL compared to those without exhibit delinquency levels 71% to 300% higher’.''
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