Class BF of Bear Stearns Asset Backed Securities Inc., series 1999-2, has been placed under review for possible downgrade by Moody's Investors Service.Moody's attributed the watchlist placement to credit enhancement levels that "may be low given the current projected losses on the underlying pools." The transaction has suffered "significant" losses that have gradually eroded the overcollateralization, the rating agency said. The securitization is backed by fixed-rate and adjustable-rate subprime mortgage loans that have multiple originators, including ContiMortgage Corp., Amresco Residential Mortgage Corp., and Provident Funding Associates LP.
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