An Overview Of Australia's Housing Market And Residential Mortgage-Backed Securities
Standard & Poor's Ratings Services
Download Document| Date Published | 2012 |
| Version | |
| Primary Author | Vera Chaplin, Erin Kitson, Kate J. Thomson |
| Other Authors | |
| Theme | |
| Country | Australia |
Abstract
Investors in Australian residential mortgage-backed securities (RMBS) continue to benefit from the strong credit performance of the underlying residential mortgage portfolios. However, there is only muted growth in new RMBS issuance activity where real-money investors, including limited foreign investors, are gradually re-emerging. Until quite recently, the Australian government's partake in Australian RMBS has been heavily relied on to underpin the utility of Australian securitization as a source of funding for mortgage originators--who themselves are experiencing a reduction in demand for credit.