KBRA is pleased to announce a new HELOC/CES index that tracks new issue private label securitizations (PLS) backed by home equity lines of credit and closed-end second mortgages. HELOC and CES now account for roughly 4.5% of outstanding private label securitizations (PLS) tracked in KBRA’s U.S. RMBS Credit Indices. With the issuance of transactions backed by these assets likely to rise in 2025, we are introducing a HELOC/CES index to KBRA’s RMBS Credit Indices report, which tracks early- (30-59 days), mid- (60-89 days), and late-stage (90+ days) delinquencies, observed modifications, prepayment speeds, and other performance metrics across the major RMBS 2.0 subsectors.

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About KBRA

KBRA is a full-service credit rating agency registered in the U.S., the EU, and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.

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