S&P Sees no Mexico RMBS Flood Damage

S&P Sees no Mexico RMBS Flood Damage

Structured Finance

S&P says that the devastating floods in the Mexican state of Tabasco will have little impact on RMBS, based on a preliminary evaluation of the mortgage pools that included properties in the stricken area. "During our recent assessment, we found that these pools had only a small percentage of affected loans and mortgages," says the agency. It adds that 46 transactions were issued between 2003 and 2007 that are still outstanding. "Of these securitized pools, none had more than 0.7% of its loans in

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