As an industry we recognize that the current RMBS
market-a critical source of financing for the overall industry- needs continued development of best practices in order to grow and fulfil its full potential in supporting the U.
As Certificateholders have previously been notified by each RMBS
Trustee, on May 14, 2012, Residential Capital, LLC, and certain of its direct and indirect subsidiaries (collectively, " ResCap ") filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code (the " Bankruptcy Code ") in the United States Bankruptcy Court for the Southern District of New York (the "Court" )( In re Residential Capital, LLC, Case No.
The performance of the Irish and Greek RMBS
markets continued to deteriorate over the past year, it added.
CUNA Mutual said it relied on RBS's quantitative representations in deciding to purchase 15 certificates in the10 separate RMBS
Performance varies across three segments: transactions sponsored by government entities Infonavit and Fovissste perform well; bank RMBS
exhibit mixed credit metrics; and non-bank-sponsored transactions backed by Sofoles loans remain stressed.
All of the RMBS
trusts that were subject to the Offer are involved in active litigations against JPMorgan for breaches of representations and warranties.
Cash Flow Analysis Criteria' (April 19, 2012);
The Fund announced that it may elect to settle tendered RMBS
securities prior to the expiration of the offer if an aggregate total of 72 remediation points has been reached or such condition is waived.
The strong credit performance of RMBS
is expected to continue in 2002.
In addition, the unique feature in Australian RMBS
of lenders mortgage insurance, which provides the primary credit enhancement to Australian RMBS
, means that lenders do not generally hold subordinated notes in their deals, which would limit the amount they could raise.
We see great opportunity for the RMBS
Group and the firm.
The criteria report summarizes Fitch's current criteria for analyzing the structure of RMBS