Poorer than expected performance in certain prime adjustable-rate jumbo mortgages issued in 2006 and 2007 deals has led Moody's Investors Service to downgrade some Wells Fargo Mortgage Backed Securities Trust and Bear Stearns tranches while confirming a smaller number of ratings from these deals. Moody's has downgraded 77 tranches from 15 WFMBST transactions and 17 tranches from three Bear deals. It also confirmed 15 tranches from the 15 MFMBST deals and one tranche from three Bear transactions. The ratings reflect an expected loss methodology for the jumbo sector that Moody's revised in September.
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