Alt-A Losses Outstripping Expectations, Moody’s Says

While defaults and delinquencies on subprime mortgages appear to have peaked, losses on prime mortgages and other prime collateral referenced by asset-backed securities (ABS), such as auto loans and credit cards, are expected to keep rising.

Separately, Moody’s also updated its methodology for rating option arm loan securitizations. The Alt-A changes became effective Aug.1. These alterations range from an increase in loss estimates, which is anywhere from 10% for stronger Alt-A pools, to an increase of more than 100% for weaker Alt-A pools.

Moody’s reports that as servicers work through the bulk of their delinquencies, modifications are on the decline. Servicers are now turning to loss mitigation alternatives, including short sales and.

3. To the extent permitted by law, Moody’s and its directors, officers, employees, representatives, licensors and suppliers disclaim liability for: (i) any indirect, special, consequential, or.

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This Management’s Discussion and Analysis of Financial Condition and Results of Operations. Forward-looking statements give expectations or forecasts of future events. These statements can be.

Moody’s Investors Service says that, Inc.’s (Baa2 positive) results for full-year 2018 were broadly in line with Moody’s expectations and will not immediately affect the company’s credit profile.

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Moody's Says Some `Alt A' Mortgages Are Like Subprime – Moody’s said in a separate statement that its expectations for losses on “option” adjustable-rate mortgages, part of the Alt A market, would rise even farther. Initial minimum payments on the loans fail to cover the interest borrowers owe, creating growing balances and possible payment spikes.

Just an update on Alt-A’s. This disturbing news from Moody’s today, November 20: Alt-A Losses Outstripping Expectations, Moody’s Says : HousingWire || financial news for the mortgage market hold onto your hats (and wallets).

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Levels of credit protection that are insufficient to protect investors against current expectations of loss could drive the ratings down. Losses could rise above Moody’s original expectations as a result of a higher number of obligors defaulting or deterioration in the value of the mortgaged property securing an obligor’s promise of payment.