Alt-A RMBS Get Slammed - Mortgage Forums for Mortgage Brokers

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Alt-A RMBS Get Slammed

#1 (permalink)

01-10-2008, 06:48 AM

Veronica Corningstone Veronica Corningstone is offline

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Alt-A RMBS Get Slammed

Moody's Investors has announced negative ratings actions on 39 Alt-A deals from five issuers in 2007 because of higher-than-anticipated rates of delinquency, foreclosure, and real estate owned in the underlying collateral relative to credit enhancement levels. The actions also reflected Moody's methodology updates to the non-delinquent portion of the transactions. Issuers of the affected deals included Bear Stearns, Countrywide and Goldman Sachs.

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