CRT Exposure to Hurricane Michael
With Hurricane Michael approaching the Gulf Coast, we put together some interactive charts looking at the affected metro areas, and their related CRT exposure (Both CAS and STACR). Given the large area of impact with Hurricane Michael, we have included a nearly exhaustive selection of MSA’s.
Click on a deal ID along the left-hand side of the plot to view its exposure to each MSA. As we point out in this blog post, most of the mortgage delinquencies in the wake of Hurricane Harvey quickly cured. Holders of securities backed by loans that ultimately defaulted (typically because the property was completely destroyed) had much of their exposure mitigated by insurance proceeds, government intervention, and other relief provisions.
Note: The analysis in this blog post was developed using RiskSpan’s Edge Platform. The RiskSpan Edge Platform is a module-based data management, modeling, and predictive analytics software platform for loans and fixed-income securities. Click here to learn more.