Many of 150+ Lowered CMBS CDO Ratings May Slip Again

Published August 10, 2009, 1:00 p.m. EDT

1 Min Read

The bulk of more than 150 recent CMBS-backed synthetic CDOs ratings lowered in a recent Standard & Poor's review could face could face further downgrades. Standard & Poor's has lowered 179 ratings from 63 commercial mortgage-backed security-backed synthetic collateralized debt obligation transactions, 169 of which remain on CreditWatch Negative. S&P also lowered five ratings from five CDO retranchings referencing residential MBS transactions and placed one of these ratings on CreditWatch Negative. The rating changes follow a monthly review of the synthetic CDO sector in which 173 ratings from 116 U.S. corporate-backed transactions also were lowered. S&P left 65 of these ratings on CreditWatch Negative.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM NATIONAL MORTGAGE NEWS

Cyber Security

Lennar lawsuits point to rising cyber liabilities for lenders

The homebuilding giant reported two separate cyber incidents this year, with the most recent breach of its mortgage unit affecting more than 348,000 individuals.

By Spencer Lee
Technology Reporter

August 28
M&A

Real REMAX strategy shift threatens independent originators

The move threatens IMBs and outside loan originators who rely on real estate agents for referrals, as the company aims to keep borrowers within its platform.

By Colin McNamara
Reporter

August 28
Mortgage rates

How Warsh's hawkish comments will impact mortgage rates

Fed Chair Kevin Warsh's much anticipated speech at the Jackson Hole meeting reinforced past comments about reducing communications around forward guidance.

By Brad Finkelstein
Originations Editor

August 28
Law and legal issues

SEC clears Garg's return bid as TRO rulings loom

The ex-CEO got a regulatory OK to officially rally shareholders for his plan, although he's still awaiting a federal judge's decision on a restraining order.

By Andrew Martinez
Reporter

August 28
RMBS

Loan Trust launches new RMBS backed by prime fixed-rate mortgages

The deal is backed by recently originated, 30-year fixed-rate mortgages with an average combined loan-to-value ratio of 75.1%, according to Morningstar DBRS.

By Karen Sibayan

August 28
Data breaches

Academy's $2M data breach deal: Why litigating rarely beats settling

Academy Mortgage's deal will cover around 285,000 class members. It's the sixth deal this year by a mortgage firm seeking to squash consumer complaints.

By Andrew Martinez
Reporter

August 28

Load More