{"id":2973,"date":"2021-04-12T12:51:33","date_gmt":"2021-04-12T16:51:33","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=2973"},"modified":"2025-07-02T12:52:47","modified_gmt":"2025-07-02T16:52:47","slug":"home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/","title":{"rendered":"Home Mortgage Bank&#8217;s Collateralised Mortgage Obligation &#8211; CMO 2019-01"},"content":{"rendered":"<h2>RATING DRIVERS<\/h2>\n<p class=\"badge\">\u00a0Supporting Factors<\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-size: 9.5pt; line-height: 115%; font-family: 'Book Antiqua', serif;\">Simple transaction structure, with effective credit enhancement built in<\/span><\/li>\n<li><span style=\"font-size: 9.5pt; line-height: 115%; font-family: 'Book Antiqua', serif;\">Legal and regulatory framework supporting the transaction provides adequate protection to investors<\/span><\/li>\n<li><span style=\"font-size: 9.5pt; line-height: 115%; font-family: 'Book Antiqua', serif;\">TTMF\u2019s sound underwriting practices underpin historically good asset quality<\/span><\/li>\n<\/ul>\n<p class=\"badge\">Constraining Factor<\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-size: 9.5pt; line-height: 115%; font-family: 'Book Antiqua', serif;\">Considerable deterioration in credit quality of the securitised loans in the mortgage pool <\/span><\/li>\n<li><span style=\"font-size: 9.5pt; line-height: 120%; font-family: 'Book Antiqua', serif;\">Mortgage pool seasoning along with a challenging economic environment could increase default risk <\/span><\/li>\n<\/ul>\n<p class=\"badge\">Rating Sensitivity Factors<\/p>\n<p style=\"margin-bottom: 0cm; margin-top: 0cm; text-align: justify; line-height: normal;\">\n<p><strong><span style=\"font-size: 10pt; font-family: 'book antiqua', palatino;\">Factor that could lead to an improvement of the ratings and\/ or Outlook include:<\/span><\/strong><\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-size: 9.5pt; line-height: 115%; font-family: 'Book Antiqua', serif;\">A return to delinquency levels of 2% &#8211; 4% within the underlying mortgage pool over the next 12-15 months<\/span><span style=\"font-size: 9.5pt; line-height: 115%;\">.<\/span><\/li>\n<\/ul>\n<p><strong><span style=\"font-size: 10pt; font-family: 'book antiqua', palatino;\">Factor that could lead to a lowering of the ratings and\/ or Outlook include:<\/span><\/strong><\/p>\n<ul style=\"list-style-type: square;\">\n<li><span style=\"font-family: 'book antiqua', palatino; font-size: 10pt;\"><span style=\"font-size: 9.5pt; line-height: 120%; font-family: 'Book Antiqua', serif;\">Persistent delinquency levels of above 20% within the underlying mortgage pool leading to heightened extension and\/ or default risk over the next 12-15 months<\/span><\/span><\/li>\n<\/ul>\n<div>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong><span style=\"text-decoration: underline;\"><span style=\"font-size: 12pt;\">BACKGROUND<\/span><\/span><\/strong><\/span><\/p>\n<\/div>\n<p style=\"margin-bottom: 0cm; text-align: justify; line-height: 120%;\"><span style=\"line-height: 120%; font-family: 'Book Antiqua', serif; color: black; font-size: 10pt;\">CMO 2019-01 is a structured finance debt instrument issued by the Home Mortgage Bank (HMB or The Bank) to securitise residential mortgage assets purchased from the Trinidad &amp; Tobago Mortgage Finance Company Limited (TTMF or the Company) on the secondary market. CMO 2019-01 offers participation certificates in 9 tranches in the amount of TT $200 million as follows:<\/span><\/p>\n<p style=\"margin-bottom: 0cm; line-height: 150%;\"><i><span style=\"font-size: 10pt; line-height: 150%; font-family: 'Book Antiqua', serif;\">Analytical Contacts:<\/span><\/i><\/p>\n<p><span style=\"font-family: 'Book Antiqua', serif; color: black; font-size: 8pt;\">Andr\u00e9 Joseph<\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><i><span style=\"font-family: 'Book Antiqua', serif; color: black; font-weight: normal;\">Tel: 1-868-627-8879 Ext. 224<\/span><\/i><\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><i><span style=\"font-family: 'Book Antiqua', serif; color: black; font-weight: normal;\">Mobile 1-868-788-4693<\/span><\/i><\/span><\/p>\n<p><span style=\"font-size: 8pt;\"><i><span style=\"font-family: 'Book Antiqua', serif; color: black; font-weight: normal;\">E-mail: <a href=\"mailto:ajoseph@caricris.com\">ajoseph@caricris.com<\/a><\/span><\/i><\/span><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><i><\/i><span style=\"font-family: 'Book Antiqua', serif; color: black; font-size: 8pt;\">Anelia Oudit<\/span><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><i><span style=\"font-size: 8pt; font-family: 'Book Antiqua', serif;\">Tel: 1-868-627-8879 Ext. 226<\/span><\/i><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><i><span style=\"font-size: 8pt; font-family: 'Book Antiqua', serif;\">Mobile: 1-868-487-8364<\/span><\/i><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><i><span style=\"font-size: 8pt; font-family: 'Book Antiqua', serif;\">E-mail: <a href=\"mailto:aoudit@caricris.com\">aoudit@caricris.com<\/a><\/span><\/i><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><span style=\"font-size: 8pt; font-family: 'Book Antiqua', serif;\">Website: <\/span><a href=\"http:\/\/www.caricris.com\/\"><span style=\"font-size: 8pt; font-family: 'Book Antiqua', serif;\">www.caricris.com<\/span><\/a><\/p>\n<p style=\"margin-bottom: 0cm; line-height: normal;\"><i><span style=\"font-size: 8pt; font-family: 'Book Antiqua', serif;\">E-mail: <a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/span><\/i><\/p>\n<p style=\"margin-bottom: 0cm; text-align: justify; line-height: 120%;\"><i><\/i><span style=\"font-size: 8pt; font-family: 'book antiqua', palatino;\">Disclaimer<\/span><b><span style=\"font-size: 6.5pt; line-height: 115%; font-family: 'Book Antiqua', serif;\">:<\/span><\/b><span style=\"font-size: 6.5pt; line-height: 115%; font-family: 'Book Antiqua', serif;\"> CariCRIS has taken due care and caution in compilation of data for this product. Information has been obtained by CariCRIS from sources which it considers reliable. However, CariCRIS does not guarantee the accuracy,adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. No part of this report may be published \/ reproduced in any form without CariCRIS\u2019 prior written approval. CariCRIS is also not responsible for any errors in transmission and especially states that it has no financial liability whatsoever to the subscribers\/ users\/ transmitters\/ distributors of this product.<\/span><\/p>\n<p style=\"margin-bottom: 0cm; text-align: justify; line-height: 120%;\">\n","protected":false},"excerpt":{"rendered":"<p>RATING DRIVERS \u00a0Supporting Factors Simple transaction structure, with effective credit enhancement built in Legal and regulatory framework supporting the transaction provides adequate protection to investors TTMF\u2019s sound underwriting practices underpin historically good asset quality Constraining Factor Considerable deterioration in credit quality of the securitised loans in the mortgage pool Mortgage pool seasoning along with a [&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-2973","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 Collateralised 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-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/\" \/>\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 Collateralised Mortgage Obligation - CMO 2019-01 - CariCRIS\" \/>\n<meta property=\"og:description\" content=\"RATING DRIVERS \u00a0Supporting Factors Simple transaction structure, with effective credit enhancement built in Legal and regulatory framework supporting the transaction provides adequate protection to investors TTMF\u2019s sound underwriting practices underpin historically good asset quality Constraining Factor Considerable deterioration in credit quality of the securitised loans in the mortgage pool Mortgage pool seasoning along with a [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/\" \/>\n<meta property=\"og:site_name\" content=\"CariCRIS\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-12T16:51:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-02T16:52:47+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#\\\/schema\\\/person\\\/510bfdfe41fce6bedbec995f62a44967\"},\"headline\":\"Home Mortgage Bank&#8217;s Collateralised Mortgage Obligation &#8211; CMO 2019-01\",\"datePublished\":\"2021-04-12T16:51:33+00:00\",\"dateModified\":\"2025-07-02T16:52:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\\\/\"},\"wordCount\":347,\"commentCount\":0,\"articleSection\":[\"Rating Releases\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\\\/\",\"url\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\\\/\",\"name\":\"Home Mortgage Bank's Collateralised Mortgage Obligation - CMO 2019-01 - CariCRIS\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#website\"},\"datePublished\":\"2021-04-12T16:51:33+00:00\",\"dateModified\":\"2025-07-02T16:52:47+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#\\\/schema\\\/person\\\/510bfdfe41fce6bedbec995f62a44967\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/rating-releases\\\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Home Mortgage Bank&#8217;s Collateralised Mortgage Obligation &#8211; CMO 2019-01\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#website\",\"url\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/\",\"name\":\"CariCRIS\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/#\\\/schema\\\/person\\\/510bfdfe41fce6bedbec995f62a44967\",\"name\":\"admin\",\"sameAs\":[\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\"],\"url\":\"https:\\\/\\\/craftedcaribbean.com\\\/caricris\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Home Mortgage Bank's Collateralised Mortgage Obligation - CMO 2019-01 - CariCRIS","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/","og_locale":"en_US","og_type":"article","og_title":"Home Mortgage Bank's Collateralised Mortgage Obligation - CMO 2019-01 - CariCRIS","og_description":"RATING DRIVERS \u00a0Supporting Factors Simple transaction structure, with effective credit enhancement built in Legal and regulatory framework supporting the transaction provides adequate protection to investors TTMF\u2019s sound underwriting practices underpin historically good asset quality Constraining Factor Considerable deterioration in credit quality of the securitised loans in the mortgage pool Mortgage pool seasoning along with a [&hellip;]","og_url":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/","og_site_name":"CariCRIS","article_published_time":"2021-04-12T16:51:33+00:00","article_modified_time":"2025-07-02T16:52:47+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/#article","isPartOf":{"@id":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/"},"author":{"name":"admin","@id":"https:\/\/craftedcaribbean.com\/caricris\/#\/schema\/person\/510bfdfe41fce6bedbec995f62a44967"},"headline":"Home Mortgage Bank&#8217;s Collateralised Mortgage Obligation &#8211; CMO 2019-01","datePublished":"2021-04-12T16:51:33+00:00","dateModified":"2025-07-02T16:52:47+00:00","mainEntityOfPage":{"@id":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/"},"wordCount":347,"commentCount":0,"articleSection":["Rating Releases"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/","url":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/","name":"Home Mortgage Bank's Collateralised Mortgage Obligation - CMO 2019-01 - CariCRIS","isPartOf":{"@id":"https:\/\/craftedcaribbean.com\/caricris\/#website"},"datePublished":"2021-04-12T16:51:33+00:00","dateModified":"2025-07-02T16:52:47+00:00","author":{"@id":"https:\/\/craftedcaribbean.com\/caricris\/#\/schema\/person\/510bfdfe41fce6bedbec995f62a44967"},"breadcrumb":{"@id":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/home-mortgage-banks-collateralised-mortgage-obligation-cmo-2019-01-3\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/craftedcaribbean.com\/caricris\/"},{"@type":"ListItem","position":2,"name":"Home Mortgage Bank&#8217;s Collateralised Mortgage Obligation &#8211; CMO 2019-01"}]},{"@type":"WebSite","@id":"https:\/\/craftedcaribbean.com\/caricris\/#website","url":"https:\/\/craftedcaribbean.com\/caricris\/","name":"CariCRIS","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/craftedcaribbean.com\/caricris\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/craftedcaribbean.com\/caricris\/#\/schema\/person\/510bfdfe41fce6bedbec995f62a44967","name":"admin","sameAs":["https:\/\/craftedcaribbean.com\/caricris"],"url":"https:\/\/craftedcaribbean.com\/caricris\/author\/admin\/"}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/posts\/2973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/comments?post=2973"}],"version-history":[{"count":1,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/posts\/2973\/revisions"}],"predecessor-version":[{"id":2975,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/posts\/2973\/revisions\/2975"}],"wp:attachment":[{"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/media?parent=2973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/categories?post=2973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/tags?post=2973"},{"taxonomy":"table_tags","embeddable":true,"href":"https:\/\/craftedcaribbean.com\/caricris\/wp-json\/wp\/v2\/table_tags?post=2973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}