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S&P may downgrade 1,887 classes of Alt-A mortgage securities

SAN FRANCISCO (MarketWatch) — Standard & Poor’s said on Friday that it may downgrade 1,887 classes of mortgage securities backed by so-called Alt-A home loans. The securities, made up of mortgages originated in 2006 and the first half of 2007, were put on CreditWatch with negative implications, the rating agency said. Alt-A loans were usually offered to more creditworthy borrowers than subprime mortgages, however, they required less information such as documents verifying home buyers’ incomes. There’s been a persistent increase in delinquencies on the loans underlying these securities, S&P said.
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Original post by Forextvblog

This entry was posted on Friday, February 29th, 2008 at 12:58 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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