Three tranches from two deals issued by Credit Suisse First Boston Mortgage Securities Corp. in 2002 and 2003 have been placed under review for possible downgrade by Moody's Investors Service.The affected securities were as follows: CSFB Mortgage-Backed Pass-Through Certificates, series 2002-AR2, classes I-B-1 and I-B-2, and series 2003-AR12, class IV-M-2. The negative rating actions were based on credit enhancement levels that may be inadequate in view of the projected losses on the underlying pools, Moody's said. The collateral backing these classes consists of primarily first-lien, adjustable-rate jumbo A mortgage loans.
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