Four certificates from Renaissance Home Equity Loan Trust deals issued in 2002 and 2003 have been placed under review for possible downgrade by Moody's Investors Service.The affected securities are: series 2002-1, classes M-2 and B; series 2002-4, class B; and series 2003-2, class M-4. In addition, nine classes were placed under review for possible upgrade. The negative rating actions were attributed to credit enhancement levels that are considered low given the projected losses on the underlying pools. The transactions consist of subprime, primarily first-lien, adjustable- and fixed-rate loans.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry