Prime Jumbo RMBS Delinquencies Near 10% February 08, 2010

-- Olivia Thetgyi

The national average for delinquencies 60 days and more in prime jumbo residential mortgage-backed securities is approaching 10% as the sector’s performance continues to deteriorate. “The fact that one out of 10 jumbo prime borrowers are delinquent psychologically has an impact,” said Vincent Barberio, managing director in RMBS surveillance at Fitch Ratings. The worsening performance is being driven primarily by rising unemployment over 2008 ...

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