Talking about Moody’s May Downgrade Mortgage Bonds With New Outlook (Update2) – Bloomberg.com

 

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Moody’s May Downgrade Mortgage Bonds With New Outlook (Update2) – Bloomberg.com
(Bloomberg) — Moody’s Investors Service said it’s planning a review of U.S. home-loan securities that will likely lead to another round of rating changes based on a new view that property prices won’t bottom until next year’s third quarter. The firm will boost its loss projections by “significant” amounts for prime-jumbo, Alt-A, option adjustable-rate and subprime mortgages backing bonds issued between 2005 and 2008, also after seeing higher losses per foreclosure than expected, Moody’s said today in a statement. Recent data showing rising home prices doesn’t prove the slump is over, the company said.

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