Thursday, January 14, 2010
05:28 PM Texas Time
Over $300 Billion in Alt-A RMBS Face Downgrade
Moody's places Alt-A tranches on review for downgrade
Moody's Investors Service said that it placed more than 10,000 tranches of Alt-A residential mortgage-backed securities on review for possible downgrade.
Rising delinquency, additional home-price declines and increasing unemployment were cited for the move.
Cumulative losses realized on the pools have more than doubled.
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