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Tuesday, August 07, 2007

S&P: More Alt-A on Negative Watch

by Calculated Risk on 8/07/2007 08:45:00 PM

From Mathew Padilla: S&P puts 207 classes of Alt-A loans on negative watch

Standard & Poor’s Ratings Services today placed its ratings on 207 classes of securities backed by first-lien Alt-A mortgages, or loans to people with mid-range credit profiles, on “CreditWatch with negative implications.”
The agency cited a rising level of loan delinquencies and said it expects losses to “exceed historical precedent and may exceed our original expectations.”