{"id":2024,"date":"2023-01-13T19:59:58","date_gmt":"2023-01-13T23:59:58","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=2024"},"modified":"2025-05-05T20:01:37","modified_gmt":"2025-05-06T00:01:37","slug":"home-mortgage-bank-s-collateralized-mortgage-obligation-cmo-2019-01-2","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-bank-s-collateralized-mortgage-obligation-cmo-2019-01-2\/","title":{"rendered":"Home Mortgage Bank &#8216;s Collateralized Mortgage Obligation CMO-2019-01"},"content":{"rendered":"<h2><strong>\u00a0<\/strong><strong>RATING ACTION:<\/strong><\/h2>\n<p><span style=\"font-family: 'book antiqua', palatino;\">On December 7, 2022, CariCRIS reaffirmed the overall issue rating of <em>tt<\/em><strong>A+ (SO) <\/strong>on the Trinidad and Tobago (T&amp;T) national scale to the TT $200 million Collateralised Mortgage Obligation (CMO) of <strong>Home Mortgage Bank (HMB) (CMO 2019-01).<\/strong> A stable outlook was maintained.<\/span><\/p>\n<p class=\"badge\"><strong>RATING SENSITIVITY FACTORS:<\/strong><\/p>\n<p><span style=\"text-decoration: underline;\"><strong>\u00a0<\/strong><strong>Factors that could, individually or collectively, lead to an improvement of the rating and\/or outlook:<\/strong><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\">An improvement in the loan portfolio quality, with an NPL ratio of lower than 5% and\/or a return to delinquency levels of 2% &#8211; 4% within the underlying mortgage pool over the next 12-15 months<\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\"><strong>Factors that could, individually or collectively, lead to a lowering of the rating and\/or outlook: <\/strong><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Persistent and further deterioration in the mortgage pool quality with delinquency levels of above 20% and\/ or NPL ratio of above 8% within the underlying mortgage pool leading to heightened extension and\/ or default risk over the next 12-15 months<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Deterioration in TTMF\u2019s NPLs to Gross loans ratio of above 10.5% sustained for 2 financial periods<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Consistent cash flow shortfalls in the underlying mortgage pool over the next 12-15 months<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A deterioration in the credit risk profile of T&amp;T leading to increased market risk<\/span><\/li>\n<\/ul>\n<p><a id=\"_Toc87621611\"><\/a><span style=\"text-decoration: underline; font-family: 'book antiqua', palatino;\"><strong>RATING METHODOLOGY<\/strong><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">The rating methodology we followed in assigning the ratings to the CMO is consistent with that utilised by the international rating agencies for rating securitised debt\/structured obligations. Further, we worked closely with an expert at CRISIL in conducting this rating, who served as a peer review for the initial assignment.<\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong>Analysts\u2019 Contact Info:<\/strong><\/span><\/p>\n<h5><span style=\"font-size: 10pt; font-family: 'book antiqua', palatino;\">Anelia Oudit<\/span><\/h5>\n<p><span style=\"font-size: 10pt;\">Mobile : 1-868-487-8364<\/span><\/p>\n<p><span style=\"font-size: 10pt;\"><a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a>\u00a0\u00a0\u00a0<\/span><\/p>\n<h5><span style=\"font-size: 10pt;\">Nadia Sanchez<\/span><\/h5>\n<p><span style=\"font-size: 10pt;\"><a href=\"mailto:nsanchez@caricris.com\">nsanchez@caricris.com<\/a>\u00a0\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><a href=\"http:\/\/www.caricris.com\">www.caricris.com<\/a>\u00a0 <\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><a href=\"mailto:info@caricris.com\">info@caricris.com<\/a> \u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0RATING ACTION: On December 7, 2022, CariCRIS reaffirmed the overall issue rating of ttA+ (SO) on the Trinidad and Tobago (T&amp;T) national scale to the TT $200 million Collateralised Mortgage Obligation (CMO) of Home Mortgage Bank (HMB) (CMO 2019-01). A stable outlook was maintained. RATING SENSITIVITY FACTORS: \u00a0Factors that could, individually or collectively, lead to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"table_tags":[],"class_list":["post-2024","post","type-post","status-publish","format-standard","hentry","category-rating-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Home Mortgage Bank &#039;s Collateralized Mortgage Obligation CMO-2019-01 - CariCRIS<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-bank-s-collateralized-mortgage-obligation-cmo-2019-01-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home Mortgage Bank &#039;s Collateralized Mortgage Obligation CMO-2019-01 - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"\u00a0RATING ACTION: On December 7, 2022, CariCRIS reaffirmed the overall issue rating of ttA+ (SO) on the Trinidad and Tobago (T&amp;T) national scale to the TT $200 million Collateralised Mortgage Obligation (CMO) of Home Mortgage Bank (HMB) (CMO 2019-01). A stable outlook was maintained. 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