- Language: English
- 1091 Pages
- Published: October 2012
- Region: Global
248 Ratings Lowered And 298 Affirmed On 52 U.S. RMBS Prime Jumbo Transactions Issued In 2002-2004; 21 Ratings Withdrawn May 11
- Published: May 2011
- Region: United States
- Standard & Poors
OVERVIEW We reviewed 52 U.S. RMBS transactions backed by prime jumbo collateral issued in 2002 to 2004. We lowered our ratings on 248 classes from 48 transactions and affirmed our ratings on 298 classes from 42 of the transactions with downgrades and four additional transactions. We withdrew our ratings on 21 classes from nine transactions: 18 interest-only classes and three additional classes that have received their full amount of scheduled principal and currently have a zero balance. The downgrades reflect our view that the amount of projected credit enhancement available for the downgraded classes is not sufficient to cover our projected losses at the previous rating levels. NEW YORK (Standard & Poor's) May 27, 2011--Standard & Poor's Ratings Services today...
Companies mentioned in this report are: Banc of America Funding 2004-5 Trust
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Banc of America Funding 2004-5 Trust