U.S. Structured Finance Newsletter: Updates on Collateral and Performance Trends in Rated RPL Securitizations
During and after the financial crisis, the residential mortgage-backed securities market accumulated a substantial number of delinquent loans, many of which had gone down the path of foreclosure and liquidation. However, along with the gradual recovery of the housing market, some previously delinquent borrowers began making their monthly mortgage payments as a result of modifications or other loss mitigation techniques. These mortgages are generally classified as re-performing loans (RPLs).
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