BUSINESS

Moody’s: Greek RMBS market performance stable in Feb-Apr

The performance of the Greek residential mortgage-backed securities (RMBS) market was stable during the three months ended April 2014, according to the latest indices published by Moody’s Investors Service.

The 90+ day delinquencies of Greek RMBS transactions rose to 5.6 percent of the current balance in April 2014 from 4.3 percent in April 2013.

The increase is due mainly to the deterioration of one single transaction, Estia Mortgage Finance II PLC.

As of April 2014, the Greek RMBS transactions rated by Moody’s had an outstanding pool balance of 2.4 billion euros, representing a 10.5 percent decrease from the previous year.

[Reuters]

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