Moody’s Investors Service downgraded $650m of residential mortgage-backed securities, or RMBS, made up of Alt-A loans issued by Countrywide Financial in 2005, the latest downgrade by the ratings agency. It has downgraded many tens of billions of dollars of RMBS over the past several months as loan losses and delinquencies remain high, although signs of stabilization–and even decline–have been seen in recent data.
Moody’s downgrades $650m of Countrywide mortgage-backed securities
Most Popular Articles
Latest Articles
New home sales still growing from 2022 lows
We have to remember the builders are growing sales because they live in a sub-6% mortgage rate world, not like the existing home marketplace.
-
Guild Mortgage CEO on values, culture and M&A priorities
-
US Mortgage Corporation committed to reverse channel, new HECM head says
-
Labor Department announces new rule to shield retirement savings
-
loanDepot CEO talks ‘longer and tougher’ mortgage cycle, NAR settlement and cyberattacks
-
The industry needs to speak out about the consequences of the commission lawsuits: Brokerage leaders