Mortgage-Backed Securities Down, Down, Downgraded
“Moody’s Investors Service said late Tuesday that it downgraded 399 residential mortgage-backed securities because of higher-than-expected delinquencies on the underlying home loans. The rating agency also said it put 32 other residential mortgage-backed securities (RMBS) under review for possible downgrades for the same reason. The RMBS were sold in 2006 and are backed mainly by first lien adjustable- and fixed-rate subprime mortgage loans, Moody’s added.”
Marketwatch.com – July 10, 2007
P.S. Something reminds me of A Game of Mortgage Monopoly
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