Business Wire, a Berkshire Hathaway (owned by Warren Buffett ) company, the leading source for press releases, photos, multimedia & regulatory filings from companies and groups throughout the world reports:
Total delinquencies and monthly defaults on U.S. timeshare ABS declined in the third quarter of 2009 (3Q’09), according to the latest timeshare ABS index from Fitch Ratings. However, due to seasonal patterns, Fitch expects that performance will worsen in the coming months.
Fitch’s timeshare ABS index is an aggregation of performance statistics on pools of securitized timeshare loans originated by various developers. Expected cumulative gross defaults on underlying transactions can range from 10% to above 20%. While delinquencies and defaults may vary on an absolute basis, most transactions supporting the index exhibit similar overall trends.
Full article here (Source: http://www.businesswire.com)
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