How has performance of RMBS been affected within Europe - particularly in the UK, Spain and Ireland? asks SWIP's Mary Boyle
The residential mortgage-backed securities (RMBS) market has got a bad name for itself in recent years. Having been implicated in the credit crunch and the collapse of several major Western banks, investors have understandably been keen to avoid bundles of mortgage debt. The sub-primed debt fiasco, which started in the US, is well documented. Europe also had its fair share of house-price bubbles. In particular, the UK, Ireland and Spain experienced massive house-price appreciation. UK prices rose by almost 250% over the decade to 2006, while Spain and Ireland experienced similar incre...
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