Eight classes from five Ameriquest Mortgage Securities Inc. securitizations have been downgraded by Moody's Investors Service.The downgrades were as follows: series 2003-1, class M-4, from Baa3 to B1; series 2003-2, class M-3, from Baa2 to Baa3, and class M-4, from Baa3 to Ba3; series 2003-7, class M-5, from Baa3 to Ba1; series 2003-8, class M-5, from Baa2 to Baa3, class MV-6, from Baa3 to Ba3, and class MF-6, from Baa3 to Ba3; and Quest Trust 2003-X4, class M-3, from Baa3 to Ba3. In addition, class M-4 of series 2003-AR2 was placed under review for possible downgrade, and nine classes from four Ameriquest deals were upgraded. The negative rating actions were based on projected losses versus available support from excess spread and overcollateralization, Moody's said. The rating agency can be found online at http://www.moodys.com.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry