(Reuters) - Moody's Investors Service on Friday downgraded 131 bonds
backed by "second-lien" or "piggyback" subprime mortgages,
which allow home buyers to borrow the cash needed for a down
payment, effectively putting no money down for a house.
The downgrades, which affected subprime loans made in 2006
to borrowers with patchy credit, included a small portion of
securities carrying Moody's highest "Aaa" rating.
Read more at Reuters.com Bonds News
backed by "second-lien" or "piggyback" subprime mortgages,
which allow home buyers to borrow the cash needed for a down
payment, effectively putting no money down for a house.
The downgrades, which affected subprime loans made in 2006
to borrowers with patchy credit, included a small portion of
securities carrying Moody's highest "Aaa" rating.
Read more at Reuters.com Bonds News
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