Sixteen tranches from four deals issued by Bank of America in 2007 have been downgraded by Moody's Investors Service, and 14 tranches have been placed under review for possible downgrade. Moody's said the negative rating actions were based on higher-than-expected rates of delinquency, foreclosure, and real estate owned in the underlying collateral relative to credit enhancement levels. The collateral consists primarily of first-lien, fixed- and adjustable-rate alternative-A mortgage loans.
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