Press Release

DBRS Reviews the Irish Tracker Mortgage Examination

RMBS
January 08, 2018

DBRS Ratings Limited (DBRS) published a commentary titled “Tracking Irish Mortgages and The Impact of Rate Mismanagement” summarising the anticipated impact on residential mortgage-backed securitisations (RMBS) of the Irish Tracker Mortgage Examination that is currently being undertaken by the Central Bank of Ireland.

In DBRS’s view, there could potentially be implications for securitisations, insofar as outstanding balances are reduced to the scale of potential pay-outs.

DBRS also anticipates that Irish RMBS are likely to see an increase in prepayment rates as sponsors (continue to) repurchase loans that are granted rate rectifications and/or balance write-downs, mitigating the impact on Irish mortgage securitisations.

DBRS’s analysis can be found in the commentary, titled “Tracking Irish Mortgages and The Impact of Rate Mismanagement”.

A copy of this commentary is available free of charge by contacting us at info@dbrs.com or online at www.dbrs.com.