In the latest episode of our “European Securitisation Insights” podcast, Mudasar Chaudhry, who leads our European Structured Finance Research team, was joined by Jorge Aranda Rodriguez, Senior Analyst, European Nonperforming & Reperforming Loan Ratings, to discuss Spain's foreclosure and bankruptcy landscape.

Chaudhry and Aranda Rodriguez dived into the latest statistics around foreclosures and bankruptcies in Spain. At first glance, the numbers appear stable as foreclosure filings are at historic lows and the banking system’s nonperforming loan ratio is just 3.2%. However, our analysts noted that these positive indicators may mask a series of underlying vulnerabilities.

Related Content:

• “Spain's Foreclosure and Bankruptcy Landscape: Stability on the Surface, Pressure Beneath” (14 July 2025) https://dbrs.morningstar.com/research/458132

By downloading or listening to this podcast, you are agreeing to the Morningstar DBRS disclaimer and legal terms and conditions found at dbrs.morningstar.com/about/disclaimer and dbrs.morningstar.com/about/termsandconditions, including that the information provided is not investment, financial or other advice. Morningstar DBRS will not be liable for losses arising from your use of the information. Please note that the content of this podcast is intended for European audiences only.

In the latest episode of our “European Securitisation Insights” podcast, Mudasar Chaudhry, who leads our European Structured Finance Research team, was joined by Andrew Lynch, Vice President of European Structured Finance Ratings, Surveillance, and Petter Wettestad, Vice President of European Structured Finance Ratings, Surveillance, to discuss the Irish buy-to-let (BTL) sector.

In this episode, the panellists summarised their observations across BTL in Ireland, including the key drivers and challenges facing the industry. Our experts delved into details of Irish BTL residential mortgage-backed securities (RMBS) transactions and how they are performing amidst the recent macroeconomic environment as well as stricter local rent reforms. They also shared their thoughts and expectations on the asset performance of RMBS transactions based on our analysis.

For our thoughts on recent trends in Irish house prices and the mortgage market, please check out episode 30 on Irish prime and nonprime RMBS.

Related Content:

• “Irish Buy-to-Let Performance Report: Q1 2025”,https://dbrs.morningstar.com/research/456754

By downloading or listening to this podcast, you are agreeing to the Morningstar DBRS disclaimer and legal terms and conditions found at dbrs.morningstar.com/about/disclaimer and dbrs.morningstar.com/about/termsandconditions, including that the information provided is not investment, financial or other advice. Morningstar DBRS will not be liable for losses arising from your use of the information. Please note that the content of this podcast is intended for European audiences only.

In the latest episode of our “European Securitisation Insights” podcast, Mudasar Chaudhry, who leads our European Structured Finance Research team, collated thoughts from the following Morningstar DBRS analysts featured at this year’s Global ABS conference in Barcelona:

• Christian Aufsatz, Managing Director and Head of European Structured Finance Ratings, moderated the Day 1 ‘The Stability Among Chaos: Capital Markets Forecast’ panel
• Mirco Iacobucci, Senior Vice President and Sector Lead of European Commercial Real Estate Ratings, spoke on the Day 2 ‘Financing the “Cloud”: Digital Infrastructure’ panel
• Mudasar Chaudhry, Senior Vice President and Head of European Structured Finance Research, spoke on the Day 2 ‘Roundtable Series: Researchers’ Perspectives’ panel
• Lorenzo Coccioli, Vice President of European RMBS & Covered Bond Ratings, spoke on the Day 2 ‘Past Your Prime? Equity Release & RMBS Market Updates’ panel

Related research is available at the following link: Morningstar DBRS at Invisso Global ABS 2025

By downloading or listening to this podcast, you are agreeing to the Morningstar DBRS disclaimer and legal terms and conditions found at dbrs.morningstar.com/about/disclaimer and dbrs.morningstar.com/about/termsandconditions, including that the information provided is not investment, financial or other advice. Morningstar DBRS will not be liable for losses arising from your use of the information. Please note that the content of this podcast is intended for European audiences only.