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10 Ratings Lowered, Four Withdrawn, And 45 Affirmed On Six U.S. RMBS Transactions Feb 12 Product Image

10 Ratings Lowered, Four Withdrawn, And 45 Affirmed On Six U.S. RMBS Transactions Feb 12

  • ID: 2047871
  • February 2012
  • Region: United States
  • Standard & Poors

Abstract
OVERVIEW We reviewed six U.S. RMBS transactions backed by prime jumbo mortgage loan collateral issued from 1992 through 2004. We lowered our ratings on 10 classes and removed one of them from CreditWatch with negative implications. We subsequently withdrew our ratings on three of these classes due to the small number of loans remaining and the potential for performance volatility. We withdrew our rating on one other class from another transaction due to our interest-only criteria. We affirmed our ratings on 45 classes from the four transactions with lowered ratings and removed two of them from CreditWatch negative. The downgrades reflect our belief that projected credit enhancement for the affected classes will be insufficient to cover the projected losses we...

Companies mentioned in this report are: Bear Stearns ARM Trust 2003-7,Structured Asset Securities Corp.,Saxon Mortgage Securities Corp.,MASTR Adjustable Rate Mortgages Trust 2003-6,Mortgage Pass-Through Trust 2004-HYB3
Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch
Action: Withdrawn

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Bear Stearns ARM Trust 2003-7,Structured Asset Securities Corp.,Saxon Mortgage Securities Corp.,MASTR Adjustable Rate Mortgages Trust 2003-6,Mortgage Pass-Through Trust 2004-HYB3

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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