50+ Scratch-&-Dent Classes Downgraded

Published May 07, 2008, 1:00 p.m. EDT

1 Min Read

Over 50 classes in 19 scratch-and-dent mortgage-backed securities transactions from four issuers have been downgraded by Fitch Ratings. The affected securities were: 32 classes from nine Structured Asset Securitizations Corp. issues; 12 classes from seven C-BASS Mortgage Loan Trust issues; six classes from two Goldman Sachs issues; and one class from a Wilshire issue. Fitch also placed 13 classes of securities on Rating Watch Negative and affirmed the ratings on nearly $1.4 billion of scratch-and-dent MBS.

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