“We expect unemployment to rise modestly next year, which will likely lead to an equivalent rise in borrower defaults,” saidChris Grimes, a Senior Director at Fitch Ratings. “However, strong borrower credit characteristics and favorable home equity build-up for the majority of homeowners should moderate the frequency and severity of ultimate mortgage insurance claims.”
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Analyzing Risks and Disruption
FitchRatings announced it will be placing U.S. residential mortgage backed securities classes on Rating Watch Negative. What brought them to this decision and what does it mean for the company?
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