Industry News

Moody’s, Fitch revisit ratings on ‘piggyback’ MBS

Moody's downgrades $19.4 billion in securities backed by second loans
Published on Aug 17, 2007

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by CareyBot

Ratings agencies Moody’s Investors Service and Fitch Ratings have downgraded or are preparing to downgrade billions in securities backed by subprime second-lien mortgages. Moody’s announced Thursday it had downgraded 691 classes of mortgage-backed securities backed by second or “piggyback” loans ...