This week Moodys Investment Service downgraded its ratings on a total of $42.2 billion of residential mortgage-backed securities (RMBS) made up of subprime home loans.
The agency said the downgrades are a result of “continued performance deterioration in subprime pools,” which is likely to worsen further as still-falling home prices and high unemployment trigger more defaults. The ratings actions reflect Moody’s updated loss expectations on subprime securities issued between 2005 and 2007.
Hi, I'm Jen and I'm here to help. Submit your complaint here or get help here
This article, Moody’s Downgrades $42.2 Billion of Subprime RMBS, is just one of our articles from our Mortgage Crisis Daily
The Subprime Mortgage Crisis Before, During, and After
Mortgage Crisis Daily monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.
