Economic Conditions Taking Toll On Greek RMBS

Weakened economic conditions in Greece appear to be taking their toll on domestic residential mortgage-backed securities, according to Fitch Ratings.

Weakened economic conditions in Greece appear to be taking their toll on domestic residential mortgage-backed securities, according to Fitch Ratings. While Greek RMBS have been largely unaffected until now by the condition, says Fitch, arrears grew to 2.6% in the last three months of 2010 compared with less than 1% the previous year. There has also been an increase in period defaults in the majority of Greek RMBS transactions.

Click here to read the release from Fitch.