Referencing Fannie Mae and Wells Fargo, Standard & Poor’s said Wednesday that the performance of the collateral behind residential mortgage-backed securities (RMBS) in the U.S. continued improving in November. This information was mined from December remittance reports.
The 30+ day delinquency rate for subprime securities shrank slightly, while other RMBS sectors were stable, according to S&P. Foreclosures fell across the board, however.
The single-family 90+ delinquency rate edged down 5 basis points to 3.3%, racking up a 70 basis point drop year-on-year, as calculated by Fannie Mae. The multifamily 90+ rate fell 3 basis points to 0.25%.
