Industry News

Standard & Poor’s downgrades $3.8 billion in second loans

Ratings agency says seconds showing worse-than-expected performance
Published on Jul 19, 2007

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by CareyBot

A week after downgrading $6.39 billion in mortgage-backed securities backed by first-lien subprime loans, Standard & Poor’s Ratings Services says it’s downgrading $3.8 billion in securities backed by second mortgages. The downgrades of 418 classes of MBS represent 6.1 percent ...

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