Class B-5 of Sequoia Mortgage Funding Corp. mortgage pass-through certificates, series 2005-2, has been placed on Rating Watch Negative by Fitch Ratings.Fitch also affirmed the ratings on 17 classes from three Sequoia transactions issued in 2005. The negative rating action was attributed to a high balance of loans with serious delinquencies. The collateral consists of prime adjustable-rate mortgage loans indexed to the one-month and six-month London interbank offered rates.

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