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Loan Modification

: Mortgage Lender Implode-o-Meter

Moody?s Downgrades $6.26bn of Jumbo RMBS

By Implode-Explode Heavy Industries

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"The sweeping downgrades are part of an ongoing effort by the major rating agencies to account for the increasingly poor performance of the jumbo mortgage market. Moody?s actions come weeks after Standard & Poor?s similarly downgraded ratings on 102 classes from 33 US prime jumbo RMBS transactions issued from 1998 through 2004, indicating the jumbo pain resonates from well before the height of the housing boom."

Full post as published by Mortgage Lender Implode-o-Meter on July 07, 2009 (boomark / email).

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