Classes M2 and B of ABFC mortgage loan asset-backed certificates series 2001-AQ1 have been placed on review for possible downgrade by Moody's Investors Service.In addition, Moody's upgraded 25 classes from 11 deals originated by Ameriquest Mortgage Co. and placed two classes on review for possible upgrade. The negative rating actions were attributed to credit enhancement levels that are low given the projected losses on the underlying pools. "The transaction has taken losses, and pipeline loss could cause eventual erosion of the overcollateralization," Moody's said. The deal is backed by first-lien adjustable- and fixed-rate subprime mortgage loans.

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