Class B of ABFC mortgage loan asset-backed certificates, series 2001-AQ1, has been placed on review for possible downgrade by Moody's Investors Service.Moody's also placed on review for possible upgrade five certificates from Ameriquest Mortgage Co. asset-backed securitization deals. The transactions consist of fixed-rate and adjustable-rate first-lien subprime mortgage loans. The negative rating action was based on the fact that credit enhancement levels are low given projected losses on the underlying pools, Moody's said. "The transaction has taken losses, and pipeline loss could cause eventual erosion of the overcollateralization," the rating agency said. Moody's can be found online at http://www.moodys.com.
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