Moody's Eyes GE Cap MBS Classes

Published December 09, 2005, 3:00 p.m. EST

1 Min Read

Eight classes of certificates issued by GE Capital Mortgage Services Inc. have been placed under review for possible downgrade by Moody's Investors Service.The affected securities are: series 1997-HE3, classes B-1 and B-2; series 1997-HE4, classes B-1 and B-2; series 1998-HE1, classes B-1 and B-2; and series 1998-HE2, classes B-2 and B-3. The watchlist placement was attributed to recent losses and diminishing credit enhancement levels relative to projected losses on the underlying pools, Moody's said. The deals are backed primarily by fixed-rate, first- and second-lien subprime residential mortgage loans. The rating agency can be found online at http://www.moodys.com.

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