The Australian residential mortgage-backed securities (RMBS) market may be heading for its busiest year since 2008 issuance amid renewed investor interest in the asset class, according to a new report issued by Standard & Poor’s Ratings Services. The report, “Australian RMBS Issuance Has Strengthened, But Is The Revival Sustainable?,” notes that more than A$8 billion […]
Vera Chaplin is Managing Director and Lead Analytical Manager for Structured Finance at Standard & Poor’s Ratings Services. Based in Melbourne, Vera leads the Standard & Poor’s Structured Finance team in Asia-Pacific.
Vera joined Standard & Poor’s in 1997 as a rating analyst. She has previously served as Analytical Team Leader for Standard & Poor’s Structured Finance team in the Pacific region, before taking on a combined surveillance, research and criteria champion role across Asia-Pacific. In all her previous responsibilities at Standard & Poor’s, Vera has played leading roles in criteria development, research and investor outreach across all structured finance asset classes and various markets. Vera is also a regular speaker at industry forums and training courses in the securitisation industry, both locally and outside of Australia.
Before joining Standard & Poor’s, Vera’s held various analytical positions within corporate treasury and economic consulting in Australia and Asia.
She holds a Masters of Commerce degree from The University of Melbourne and a Graduate Diploma of Applied Finance and Investment from the Securities Institute of Australia.
Author Archives: Vera Chaplin
Investors in Australian residential mortgage-backed securities (RMBS) continue to benefit from the strong credit performance of the underlying residential mortgage portfolios. However, there is only muted growth in new RMBS issuance activity where real-money investors, including limited foreign investors, are gradually re-emerging. Until quite recently, the Australian government’s partake in Australian RMBS has been heavily […]
Australia’s mortgage performance is likely to remain stable in 2012, despite signs that household debt to income has reached sensitive levels amid declining property prices. That’s one of the key take-away messages from a market briefing hosted by Standard & Poor’s Ratings Services in Melbourne on March 27, 2012. The briefing also heard from Standard […]
This month, Standard & Poor’s updated its methodology and assumptions for analysing credit risk associated with collateral backing Australian and New Zealand residential mortgage-backed securities (RMBS). These criteria, which apply immediately to all new and existing Australian and New Zealand RMBS backed by prime, subprime, and nonconforming mortgages, includes some changes from the criteria proposed […]
Standard & Poor’s this month published its outlook assumptions for the Australian residential mortgage market to support its view of loss expectations for archetypical mortgage pools, as defined in its updated RMBS criteria article. Standard & Poor’s credit analysis of mortgage pools, which incorporates this outlook and expected loss scenario, reflects: The loss expectation for […]