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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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From: ldo7911/19/2007 5:38:39 PM
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Moody's cuts 14 classes of Merrill Lynch Alt-A loans
Mon Nov 19, 2007 5:11pm EST
New York, Nov 19 (Reuters) - Moody's Investors Service cut the ratings of 14 classes of residential mortgage-backed securities supported by Alternative-A mortgage loans from 2006 while placing two others under review for downgrade.

The collateral backing the classes consists of primarily first lien, fixed and adjustable-rate, Alt-A mortgage loans.

"The ratings were downgraded and placed under review for downgrade based on higher than anticipated rates of delinquency, foreclosure, and REO in the underlying collateral relative to credit enhancement levels," said Moody's in a release.
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