Dutch RMBS performance remained strong in September
The Dutch residential mortgage-backed securities (RMBS) market remained strong during the three-month period ended September, according to the latest indices published by Moody’s Investors Service.
The 60+ day delinquencies of Dutch RMBS, including Dutch mortgage loans benefitting from a Nationale Hypotheek Garantie, continued to decrease to 0.73% in September from 0.81% in June. The 90+ day delinquencies also continued to decrease to 0.56% in September from 0.64% in June.
Cumulative defaults increased to 0.78% of the original balance, plus additions (in the case of master issuers) and replenishments, in September from 0.70% in June. This compares to cumulative defaults of 0.49% in September 2014. Cumulative losses increased to 0.15% in September from 0.14% in June.
Moody’s has assigned definitive credit ratings to two new transactions since the last publication of the Index on September 9, including five classes of notes issued by STORM 2015-II B.V. and two classed of notes issued by Hypenn RMBS IV B.V.