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S&P Credit Research883 word report
published Jul 01, 2009
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S&P Credit Research
| Abstract: | OVERVIEW We reviewed 180 RMBS transactions backed by U.S. prime jumbo mortgage loan collateral issued in 2005, 2006, and 2007. We downgraded 1,784 classes from 167 of these transactions and affirmed our ratings on 1,028 classes from 107 transactions. We removed 586 of the affirmed ratings from CreditWatch negative. The downgrades reflect our belief that credit enhancement for the affected classes will be insufficient to cover projected losses due to increased delinquencies and the current condition of the housing market. NEW YORK (Standard&Poor's) July 1, 2009--Standard&Poor's Ratings Services today lowered its ratings on 1,784 classes from 167 residential mortgage-backed securities (RMBS) transactions backed by U.S. prime jumbo mortgage loan collateral issued in 2005, 2006, and 2007.
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| Brief Excerpt: | RESEARCH Ratings Definitions 1,784 Ratings Lowered On 167 U.S. Prime Jumbo RMBS Transactions From 2005-2007; 1,028 Ratings From 107 Deals Affirmed Publication date: 01-Jul-2009 Primary Credit Analyst: Andrew J Giudici, New York (1)...
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| Report Type: | Ratings Action
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| Issuer: | Banc of America Mortgage 2006-2 Trust
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| Sector: | Structured Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- New Issue: Banc Of America Mortgage 2006-2 Trust $400.00
Standard&Poor's Ratings Services has assigned the ratings shown to this transaction. The ratings are based on levels of credit enhancement (including subordination of lower-rated tranches) that meet our requirements given our risk assessment ...
