Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
NAB's credit ratings remain unchanged

NAB's credit ratings remain unchanged

Standard & Poor’s has announced that its ratings for some of NAB’s residential mortgage-backed securities (RMBS) are unchanged following the bank’s reclassification of property data.

The credit ratings agency said RMBS issued by Perpetual Trustees as a trustee for National RMBS Trust 2010-1, National RMBS Trust 2011-1 and National RMBS Trust 2012-2 are unchanged after NAB recently announced that it had reclassified property occupancy data as part of its reporting obligations.

Under the reclassification, Standard & Poor’s said NAB has decreased the proportion of owner-occupied loans and correspondingly increased the proportion of reported investor loans.

Advertisement
Advertisement

“The level of respective credit enhancement available in each transaction is sufficient to absorb the increased investment loan exposure,” it said.

“As such, the reclassification will not in and of itself result in a lowering, withdrawal, or qualification of the outstanding ratings of the aforementioned transactions.”

NAB's credit ratings remain unchanged
mortgagebusiness

 

Latest News

The APRA Capability Review has been released, outlining that while the regulator has been “an impressive and forceful regulator”, it sho...

Two non-major banks have reduced their interest rate floors for home loan serviceability assessments, following moves from ANZ and Westpac. ...

Residential property values are expected to begin rising sooner than anticipated, with ANZ Research revising its forecasts in response to re...

FROM THE WEB
podcast

LATEST PODCAST: A shift in serviceability requirements

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.