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Moody’s Withdraws Ratings as $122 Million in Pre-2005 Deals Run Off

JAN 23, 2013 1:02pm ET
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Moody’s Investors Service has withdrawn ratings on $122 million of pre-2005 residential mortgage-backed securities deals issued between 1996 and 2004 as cash flows from these older deals have diminished to very low levels with age.

The company has withdrawn ratings on 93 tranches from 18 deals in which pools contain fewer than 40 loans.

Issuers affected include some of current and former big names in the mortgage business, including ABN Amro Mortgage Corp., Banc of America Mortgage, Bear Stearns, Washington Mutual and Wells Fargo, as well as some securitization vehicles used by Donaldson, Lufkin and Jenrette, Countrywide and Residential Funding.

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