Class B5 of Structured Adjustable Rate Mortgage Loan Trust residential mortgage-backed certificates, series 2004-11, has been downgraded from B to CC/DR3 and removed from Rating Watch Negative by Fitch Ratings.Fitch also upgraded two classes and affirmed the ratings on three others in the transaction. The downgrade was attributed to a deterioration in the relationship between credit enhancement and expected losses. The transaction consists of adjustable-rate conventional mortgage loans.
SARM MBS Class Downgraded
January 11, 2007, 3:00 p.m. EST 1 Min Read
