Thirty-one tranches from seven "scratch-and-dent" transactions issued by Ameriquest/Quest Trust X have been downgraded by Moody's Investors Service. Moody's said the downgrades are part of a wider review of all residential mortgage-backed securities "in light of the deteriorating housing market and rising delinquencies and foreclosures." The rating agency said many scratch-and-dent pools originated since 2004 are experiencing higher-than-expected rates of delinquency, foreclosure, and real estate owned.
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