(Bloomberg) -- Moody's Investors Service described
some so-called Alt A mortgages as no better than subprime home
loans, saying it will change how it rates related securities
after failing to predict how far delinquencies would rise.
The ratings firm said today its expectations for losses on
Alt A mortgages will rise between 10 percent and 100 percent,
depending on whether a loan pool has a lot of debt extended to
borrowers with low credit scores and little money for down
payments. It's also raising loss expectations when borrowers
don't fully document their incomes.
Read more at Bloomberg Bonds News
some so-called Alt A mortgages as no better than subprime home
loans, saying it will change how it rates related securities
after failing to predict how far delinquencies would rise.
The ratings firm said today its expectations for losses on
Alt A mortgages will rise between 10 percent and 100 percent,
depending on whether a loan pool has a lot of debt extended to
borrowers with low credit scores and little money for down
payments. It's also raising loss expectations when borrowers
don't fully document their incomes.
Read more at Bloomberg Bonds News
No comments:
Post a Comment